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SMSFs Acquiring Assets from Related Parties
SMSFs cannot acquire an asset from a 'related party' (such as a member or their spouse or relative) unless it is acquired at market value and is...
ATO Asset Betterment Assessments.
Asset betterment is where the ATO compares the assets & liabilities of a taxpayer to their reported taxable transactions and identifies unexplained wealth. The ATO can then issue a default assessment based on their assessment of what your income should have been.