ATO launches self-help tool for trustees, advisers

The ATO has launched ‘SMSF assist’ to help SMSF practitioners and their clients “find answers to SMSF questions”.

The online service was launched by the ATO late last week and is intended to provide a simple way for practitioners and trustees to “self-help” on SMSF queries.

Topics available via this service include setting up a fund, contribution types, investment restrictions, benefit types, pension and income streams and winding up a fund.

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“This tool can also help your clients if they are considering if an SMSF is right for them. They can simply type a question or keywords into the tool for an instant response,” the ATO stated.

The launch of this service follows the release of several online SMSF resources for both trustees and professionals, including videos and the ATO app.