This table shows the general type of contraventions that have been reported to us since the start of contravention reporting in 2005 (up to 30 June 2015) by SMSF auditors.
Contravention type |
As proportion of number of contraventions |
As proportion of value of contraventions |
|---|---|---|
Loan to member/financial assistance |
21.5% |
15.0% |
In-house assets |
19.4% |
28.8% |
Administrative type contraventions |
10.3% |
1.4% |
Separation of assets |
12.8% |
25.0% |
Operating standard type contraventions |
7.8% |
5.9% |
Borrowings |
7.7% |
8.1% |
Sole purpose |
8.2% |
4.5% |
Investments at arms length |
7.7% |
7.9% |
Other |
3.4% |
1.0% |
Acquisition of assets from related parties |
1.3% |
2.4% |
Total |
100% |
100% |