SMSFs are surrounded by various complex and ever-changing rules. The ATO is taking compliance of SMSFs very seriously and the rules are strictly enforced to ensure the retirement savings of over 1 million SMSF members are carefully managed. Sometimes though, mistakes can happen, and the ATO understands this and will generally work with trustees to ensure that they adhere to the rules. However, where there have been serious breaches, the ATO can enforce some costly penalties o