The Tax Practitioners Board (TPB) is undertaking a review of registered tax practitioners believed to have provided false information to the Commissioner of Taxation. The review identified 74 tax practitioners that lodged 2017 and 2018 self-managed superannuation fund (SMSF) annual returns with an incorrect, perhaps fraudulently recorded, SMSF Auditor Number (SAN).
An Australian Taxation Office (ATO) compliance campaign that commenced last year, found that 74 practitioners representing 106 funds have lodged annual returns for the 2017 financial year with an incorrect SAN and failed to satisfactorily respond to ATO inquiries. The ATO then referred the matter to the TPB.
SMSFs are an important component of Australia’s taxation and superannuation system and SMSF auditors play a critical role in ensuring the integrity of the system through the annual audits of SMSFs. These audits must be completed by an approved SMSF auditor before an SMSF annual return can be lodged.
TPB Chair, Ian Klug AM
