Have you received a letter titled ‘Your SMSF’s registration may be cancelled’ from the ATO?

It has come to our attention recently that the ATO is sending out letters to SMSFs established in the last few years. These letters indicate that the SMSF may not have assets and will be de-registered unless a form is completed in 21 days.

If you have received this letter, here is what to do:

1. Don’t Panic – the ATO is sending this out to lots of new SMSFs, even if they have previously submitted returns saying they hold assets. It appears that the ATO have not filtered the recipients of this letter against previous returns and does not indicate your fund has any issues.

2. Contact your Elston adviser immediately – as there is a 21 day limit, time is important. We have all the information we need to sort this out for you, so please contact us promptly on 1300 357 866 or info@elston.com.au.

If you have any queries, please contact your Elston adviser immediately.