[1626] ATO Superannuation Circular No 2/2003 - self-managed super fund audit requirements.

Australasian Business Intelligence, September, 2003

Sep 23, 2003 (Weekly Tax Bulletin - ABIX via COMTEX)

An important document has been issued by the Australian Taxation Office (ATO). ATO Superannuation Circular No 2/2003 stipulates the ATO's requirements as regards the preparation of annual audit reports for self-managed superannuation funds (SMSFs). The ATO notes that the circular's requirements are conditional on the passing of the "Superannuation Safety Amendment Bill 2003". The guidelines provide a approved format for the compilation of the report, and state that the report must be supplied to the trustees of an SMSF at least one day before the SMSF is due to lodge its annual tax return.

Publication Date: 12 September 2003

AUSTRALIAN TAXATION OFFICE 

By Stuart Jones

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