Revision of SMSF specific advice

You can ask us to review SMSF specific advice. In some cases we may revise our advice without being asked, but generally only if the scheme and income year to which the original advice relates have not begun.

Note: You can apply for a new SMSF specific advice at any time. It does not matter if the scheme or year of income has not yet begun.

If you decide to apply for a new SMSF specific advice or request a review of a previous SMSF specific advice, you must tell us about any previous SMSF specific advice you have received on that subject. Otherwise, the new SMSF specific advice will be taken not to have been made. However, if you do tell us about a previous SMSF specific advice, and the new SMSF specific advice is inconsistent with the old, the new SMSF specific advice applies.

The ATO may decline to give you a new SMSF specific advice on the same subject and for the same years if your existing SMSF specific advice is enough.