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Matt Gaden
HEAD OF AUSTRALIA
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
JANUS HENDERSON INVESTORS (AUSTRALIA) LIMITED
Helping investors traverse financial markets and build their wealth during the peaks and troughs is Janus Henderson Investors head of Australia Matt Gaden's game plan. He tells Karren Vergara why in this long game of investing, active management wins.
If they are non-compliant they should be issued with some kind of infraction notice. Give them two chances then if it happens again, ban them from having their own SMSF for life.
What an appalling article. The headline that 75,000 funds being non-compliant is a complete misstatement of the facts. I was at the the ICAA conference and in no way did Stuart Forsyth state that 15% of funds are non compliant.
He indicated that that 85% to 95% are responsible and act within the law. The 5% to 15% that do not act responsibly include in the main minor administrative breaches. He further indicated that approximately 2% of funds receive audit contravention reports from their independent auditors. It is the auditors role to issue the ACRs (not the ATO as written in the article) and the vast majority of the breaches are recified.
The ATO issues very few non-compliance notices but when they do it is a result that the trustees have had no regard to the law and deserve to be penalised.