The majority of SMSF trustees rely too much on tax professionals in order to meet their obligations as trustees. The majority of SMSF trustees rely too much on tax professionals in order to meet their obligations as trustees. Trustees of self-managed super funds differ greatly in their understanding of their roles, with many depend too heavily on professional advisors to fill the gaps, according to ATO-commissioned research. The study identified distinct groups of SMSF trustees, revealing an array of different levels of understanding, confidence and involvement. Read more: The SMSF Auditor's Role in Self-Managed Superannuation Funds "Clusters vary from one extreme to the other," explained The ATO's SMSF regulator branch's assistant commissioner Justin Micale, speaking at an upcoming Tax Institute event. "There are some who are extremely confident and financially knowledgeable, are interested in finance and investing and are regularly attending webinars and
Accounting, Taxation, Bookkeeping, smsf audit