Being in control of a superannuation fund does not come without responsibilities or obligations and the ATO is now able to hit trustees where it hurts the most (their wallet!) if they forget this.
If a trustee breaches any of the sections in the below table, the ATO can impose a fine which is payable by all of the trustees (even by those who did not participate in the breach) out of their own pocket.
Media Enquiries:
Julie Hartley
Solicitor
Townsends Business & Corporate Lawyers
02 8296 6208
julie[at]townsendslaw.com.au
townsendslaw.com.au