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Question 3 Given that many of the operational tasks undertaken by a SMSF are outsourced to various SMSF professionals (such as accountants, investment advisers, solicitors

Question 3

Given that many of the operational tasks undertaken by a SMSF are outsourced to various SMSF professionals (such as accountants, investment advisers, solicitors etc.), discuss why SMSF members remain directly liable (for compliance and potential civil/criminal penalties) for the actions of the fund. (10 marks)

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