#8039
Kenneth Turner
Participant

    Test 6 of the ACR reporting criteria says – “where the value of all of contraventions is more than 5% of fund assets”. Test 7 says – “If the value of all contraventions of a section or regulation … is more than $30,000”.

    In my opinion, this means that if the contraventions add up to more than 5% of fund assets, or add up to more than $30,000 – then the contraventions have to be reported to the ATO.

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