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Jason G

Jun 15, 2023

ATO Trustee Declarations

in SMSF Technical Forum

What is the best approach regarding lost ATO Trustee Declarations?

I am auditing a fund that was audited by another auditor in the previous financial year. No mention of S104a issues in that audit report. However, I have requested a copy of the ATO Trustee Decalarations and have been informed the trustees cannot locate them.

Should the trustees sign new/replacement declarations if the originals are lost?

Further, will a contravention report need to be lodged in relation to S104a, even if replacements have been created and executed?

Thank you.

1 comment

Comments (1)

THE AUDITORS INSTITUTE

Jun 15, 2023

Hi Jason

The section 104A requirement re ATO trustee declarations only applies to new trustees appointed after 30 June 2007.

Yes if the trustees have been appointed after 30 June 2007 and the declarations have been lost my view is yes the trustees should sign new ones and then there would be no reason then to qualify re this issue. You should also request that they sign a statement saying they lost the original declarations.

If other forum members have a different view please let the forum know.

Thanks

SMSF AAA