ato audit

Discussion in 'Superannuation' started by unfunkable, May 6, 2011.

  1. unfunkable

    unfunkable Active Member

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    hey
    when the ato does the audit, and the fund is not performing so well...ie: dropped in value
    does that cause issues with compliance?

    does anybody have experience with this happening to them and the ATO being on their back?
    obviously super funds witg shares got smashed during GFC, and I haven't heard anything about this, but are SMSF different?

    my SMSF took a bad hit, im heavily into silver......but in the scheme of things, this is a very long game....25 years until retiring.
     
    unfunkable, May 6, 2011
    #1
  2. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    Compliance is very different to performance.

    The ATO (generally) doesn't give a toss if you've made a bad investment, only that you've completed the paperwork for it correctly.
     
    Big A.D., May 6, 2011
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  3. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    ...and paid your tax :p
     
    Clawhammer, May 6, 2011
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  4. fishball

    fishball New Member Silver Stacker

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    *hand wave*

    These are not the capital gains you are looking for.
     
    fishball, May 6, 2011
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  5. hiho

    hiho Active Member Silver Stacker

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    shhhhhhhhhhhh!
     
    hiho, May 6, 2011
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  6. Guest

    Guest Guest

    We are all screwed!!!

    Silverthe most effective tax minimisation around!!
     
    Guest, May 6, 2011
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