The ATO will implement a deliberate strategy to progressively review the top 100 ranked SMSFs based on the total assets reported by the funds in their 2016/17 return.
The ATO will check for non-arm’s length income, dividend stripping and structured tax arrangements designed to avoid tax to ensure the money moving into the fund is taxed appropriately and trustees do not get inappropriate access to concessional tax treatment not available outside of the superannuation environment.
Source: CCH ATW Issue 39
