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The Australian Taxation Office (ATO) has announced that it will be contacting a number of Self Managed Superannuation Funds (SMSF) where their records indicate that 90% or more of an SMSF’s funds are held in one asset or a single asset class which may increase the risk level of the fund.
The trustees of a SMSF are required to give due consideration of all investments held by the fund and consider the fund’s risk profile.
The ATO will be requesting that trustees review their investment strategy and clearly document the reasons behind their investment decisions.
