The ATO said the changes are a result of the Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 which inserted Part IVD into the Taxation Administration Act 1953 to better protect individuals who disclose information to the Tax Office.

“As this will have implications for SMSF auditors who report other regulatory information at section G of the auditor/actuary contravention report (ACR), we have updated the ACR to include this information, with effect from 1 July 2019,” the ATO said.

A disclaimer has been added to section G of the ACR to make it clear that when auditors provide information about a fund or trustees at section G, they’re consenting to the disclosure of their identity to the SMSF trustee.

“If you wish to keep your identity confidential, you can make a voluntary disclosure at ato.gov.au/tipoff. We don’t consider the disclosure of information at sections E and F of the ACR will be impacted by the new law,” the ATO said.

The ATO said it has also updated the ACR instructions in line with changes to the form.

“We’ve also added guidance for SMSF auditors who’ve been unable to obtain sufficient appropriate evidence to support the market value of fund assets,” it said.

“Example 10 includes an example of an SMSF that invested in unlisted assets and the SMSF auditor is unable to verify the asset’s current market value.”