News : ATO

ATO, Auditing, Valuations

Market valuation audit work an ATO worry

The audit procedures relating to market valuations are causing angst for the ATO, with several issues being identified as problematic.

The audit procedures relating to market valuations are causing angst for the ATO, with several issues being identified as problematic.

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ATO, Compliance, Documentation

Court move ramps up lodgement action

ATO court action against a trustee for late lodgements has shown the importance of heeding the regulator’s compliance and deadline warnings.

ATO court action against a trustee for late lodgements has shown the importance of heeding the regulator’s compliance and deadline warnings.

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ATO, SMSF, SMSFA

Record growth for SMSFs confirmed

Newly released ATO quarterly SMSF statistics show the 2026 financial year to be one of record growth for the sector.

Newly released ATO quarterly SMSF statistics show the 2026 financial year to be one of record growth for the sector.

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ATO, Compliance, Contributions, Strategy

ATO lag delaying contribution strategy

Delays in processing contribution reserving notifications have continued despite the ability to complete the process online.

Delays in processing contribution reserving notifications have continued despite the ability to complete the process online.

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ATO, Auditing

SAR modified for audit data capture

The 2026 SMSF annual return has been modified with new labels to improve the information the ATO has about yearly fund audits.

The 2026 SMSF annual return has been modified with new labels to improve the information the ATO has about yearly fund audits.

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ATO, Superannuation, Tax, TPB

Call for tax admin review feedback

The Tax Ombudsman is calling for feedback on several possible tax administration issues that have been identified as areas of review.

The Tax Ombudsman is calling for feedback on several possible tax administration issues that have been identified as areas of review.

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ATO, Compliance

New disqualified person category invoked

A new category of disqualified person relating to SMSF trustees has been added to address unpaid compensation for victims of criminal behaviour.

A new category of disqualified person relating to SMSF trustees has been added to address unpaid compensation for victims of criminal behaviour.

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ATO

Call to improve tax agent services

The tax ombudsman has made three major recommendations to the ATO in order to improve the regulator’s digital services for agents.

The tax ombudsman has made three major recommendations to the ATO in order to improve the regulator’s digital services for agents.

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ATO, Contributions, Documentation, SMSF

ATO affirms establishment cost claim rules

The ATO has affirmed trustees can pay for SMSF set-up costs, but has noted the limits as to when that will be viewed as a member contribution.

The ATO has affirmed trustees can pay for SMSF set-up costs, but has noted the limits as to when that will be viewed as a member contribution.

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ATO, Auditing

ATO outlines SMSF audit focus

The ATO will look at valuation evidence and the processes auditors use to review SMSFs as part of its compliance work during this financial year.

The ATO will look at valuation evidence and the processes auditors use to review SMSFs as part of its compliance work during this financial year.

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