News : ATO

ATO, Auditing

Detail evidence provided to ATO

Administrative Review Tribunal, ATO, audit evidence, audit files, Bryce Figot, burden of proof, DBA lawyers, SMSF auditors, soft copy

Audit evidence provided to the ATO should be done in soft copy with a complete list of all documents to prevent loss and mistakes impacting its decisions.

read more
ATO, Compliance

ATO correspondence often ignored

The regulator has noticed a disturbing trend whereby SMSF trustees are ignoring critical pieces of correspondence relating to compliance breaches.

read more
ATO, Compliance, Documentation

Annual returns key to sector integrity

ATO, Rosenzweig, SMSF Annual Returns, SMSF Association National Conference 2025,

The ATO has shed light on the critical role the lodgement of SMSF annual returns plays in its monitoring of sector integrity.

read more
ATO, Pensions

TR 2013/5 relief not a free kick

ATO, compliance resources, SMSF, minimum pension payment, Heffron, Leigh Mansell, Taxation Ruling 2013/5, TR 2013/5, payment standards

The ATO’s plans to not review minimum pension payment breaches in the past year should not be viewed as a free kick in regards to other contraventions.

read more
ATO, Auditing, Compliance

Trustees should be proactive with breaches

Trustees who have a contravention in their fund should be proactive in providing information about the mistake, its rectification and the action they have taken to prevent a reoccurrence.

read more
ATO, Business News, Compliance, SMSF, Superannuation, Tax

ATO releases auditor priorities

The volume and cost of SMSF auditors’ work will be key areas of focus for the ATO in the coming year, with outliers likely to draw attention.

The volume and cost of SMSF auditors’ work will be key areas of focus for the ATO in the coming year, with outliers likely to draw attention.

read more
ATO, fraud, Superannuation

ATO flags adviser role in illegal access

The ATO’s estimate of funds being illegally accessed from SMSFs has fallen, but it has identified advice telling people how to hide this behaviour using loans to members.

read more
ATO, Compliance

Compliance focus reflected in ATO data

ATO statistics, SMSF compliance, SMSF trustee contraventions, market valuations, Smarter SMSF, Tim Miller, arm’s-length transactions, loans to members, provision of financial assistance, separation of assets

The latest ATO statistics published about the sector reflect the regulator’s emphasis on certain compliance areas in the past few years.

read more
ATO, Tax

Government’s super changes need stopping

superannuation legislation, taxing of unrealised capital gains, $3 million super tax, Division 296 tax, farmers, total superannuation balance, Naz Randeria, Reliance Auditing Services.

Changes to superannuation legislation should be a key election issue as the government’s proposed changes will impact future generations.

read more
ATO

Ready market vital to asset suitability

ATO, asset, market valuation, Smarter SMSF, valuation guidelines, Tim Miller, SuperGuardian, trustee obligations, sole purpose test

ATO guidelines have stipulated an asset that does not have a ready market where it can be easily valued may not be appropriate for an SMSF to hold.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.