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The ATO’s review of income tax returns show nine in 10 rental property owners are getting their return wrong. Property expense claims, as well as SMSF returns and crypto transactions, are all on the radar this year.
The regulator’s recent removal of a controversial $500,000 minimum-balance guidance for self-managed superannuation funds provides an opportunity to re-engage with lower-balance funds that have been steered away from SMSFs, the SMSF Association says.