Actions by trustees for a particular offence that are held to be non-compliant with the superannuation rules can result in the trustees being exposed to:
A) both civil prosecution up to a maximum penalty of $220,000 and criminal action with a maximum penalty of 5 years in prison.
B) either civil prosecution up to a maximum penalty of $220,000 or criminal action with a maximum penalty of 5 years in prison.
C) either civil prosecution up to a maximum penalty of $220,000 or criminal action with a maximum penalty of 10 years in prison.
D) none of the above.
Correct Answer:
Verified
Q1: A SMSF member/trustee cannot be a(n):
A) employee
Q2: SMSFs are regulated by the:
A) APRA.
B) ATO.
C)
Q4: SMSF trustees cannot:
A) borrow more than $500,000
Q5: Commercial terms regarding property acquisitions for a
Q6: Real returns from an investment portfolio:
A) exclude
Q7: The purchase of an asset by a
Q8: In comparison to large superannuation funds, available
Q9: In-specie member superannuation contributions to a SMSF
Q10: When a superannuation fund member rolls their
Q11: Jointly owned assets where a SMSF is
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