News : ATO

ATO, Auditing, Technology

ATO confirms AI use not fully reliable

The ATO believes practitioners and trustees cannot completely rely on AI to undertake SMSF functions and an element of human involvement is still needed.

The ATO believes practitioners and trustees cannot completely rely on AI to undertake SMSF functions and an element of human involvement is still needed.

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Administration, ATO, SMSF, Superannuation

Trustees warned on early access

The ATO has warned trustees they will be held accountable for members who access super without meeting a legitimate condition of release.

The ATO has warned trustees they will be held accountable for members who access super without meeting a legitimate condition of release.

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Administration, ATO, Legislation, SMSF, Superannuation

Slight advisory impact, but no substance

Federal budget, financial advice, FAAA, Financial Advice Association Australia, ATO, Phil Anderson,

The federal budget has included a few measures impacting advisers, but lacks any detail regarding the greater financial services sector.

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ATO, Compliance, Regulation

Disqualification a family SMSF issue

Individuals should consider the implications a serious compliance breach will have before including family members as SMSF trustees.

Individuals should consider the implications a serious compliance breach will have before including family members as SMSF trustees.

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ATO, Retirement

Payday super consultation opens

Payday Superannuation legislation, ASFA, Association of Superannuation Funds of Australia, Mary Delahunty, ATO, retirement savings,

The government will continue its efforts to introduce payday superannuation and is seeking input from the sector after releasing draft legislation.

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ATO, Insurance

Compassionate sum must be net of tax

Early payments made from SMSFs on medical compassionate grounds must have tax deducted before they are received by the relevant member.

Early payments made from SMSFs on medical compassionate grounds must have tax deducted before they are received by the relevant member.

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ASIC, ATO, Auditing

ASIC sanctions 17 SMSF auditors

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

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ART, ATO, Pensions, Tax

ART ruling may clash with TR 2013/5

Administrative Review Tribunal, ART, TR 2013/5, superannuation pension, Tax Ruling 2013/5, Sladen, Phil Broderick, Philippa Briglia, QWYN and Commissioner of Taxation, superannuation income stream

The Administrative Review Tribunal has adopted a wide view on what may be considered a superannuation pension, potentially creating a conflict with Taxation Ruling 2013/5.

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ATO, Business News, Death benefits, SMSF, Superannuation

Death pension doubt from TR 2013/5

Tax Ruling 2013/5, TR 2013/5, superannuation, income stream, death benefit pensions, minimum payment, Colonial First State, Craig Day, SMSF Association National Conference 2025, ATO

The update to TR 2013/5 has created uncertainty as to the treatment of a death benefit pension if the required minimum payment has not been met.

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ATO, Auditing, SMSF, Superannuation

Share registry valuations questionable

SMSF members should not rely on old valuations sourced from a share registry when valuing stocks that will form part of an in-specie contribution.

SMSF members should not rely on old valuations sourced from a share registry when valuing stocks that will form part of an in-specie contribution.

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