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  • SAN misuse mailout to auditors completed

    We recently issued a follow up email to all auditors to serve as a reminder to reply to the SAN misuse mailout. To date we have emailed client lists for the 2019 income year to 4,899 auditors, which totalled 479,635 funds.

    We are pleased to say that we have received a response rate of over 67%, the highest that we have ever had. Thank you for your positive response to the mailout.

    The responses helped us confirm that 287,459 funds received an audit by the auditor reported in the 2019 annual return.

    It also revealed that 1,315 funds did not correctly report the auditor on their return. We will soon be reaching out to the tax professionals of these funds to determine whether the SAN misuse was a result of inadvertent or deliberate reporting.

    Later this year we will send you client lists for the 2020 income year. You can reduce the number of SMSFs for which you need to confirm audits by lodging an audit complete advice (ACA). Online services for business now makes it easier for you to lodge ACA's. Try it out today.

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      Last modified: 24 Mar 2021QC 65145