News : ATO

ATO, SuperStream

ESA non-disclosure breaches obligations

withheld ESA

SMSF practitioners must disclose the electronic service address of a fund when dealing with the ATO as not doing so will create a breach for their trustee clients.

read more
ATO, Documentation

ATO encourages early reporting

ATO early reporting

SMSFs should make early reports of events that impact a member’s transfer balance account which creates more clarity around the fund’s status.

read more
ATO, Documentation

YourSuper tool recommended for wind-ups

YourSuper SMSF wind-up

The ATO has reminded SMSFs that are winding up they can use its superannuation fund comparison tool to find a new home for their fund benefits.

read more
ATO, Contributions

Admin penalties net $3.4 million

SMSF administrative penalties

Administrative penalties imposed on SMSF trustees by the ATO raised $3.4 million for the regulator in the 2022 income year.

read more
ATO

ATO set to disqualify non-lodging tax agents

tax agents SMSF trustees

Hundreds of tax agents who are SMSF trustees face disqualification for failing to lodge an annual return unless they urgently engage with the ATO.

read more
ATO, Superannuation

SMSF complaints against ATO low

SMSFs complaints ATO

The number of SMSFs accessing the Tax Ombudsman complaints service regarding actions brought against them by the ATO are considerably low.

read more
ATO, Superannuation

SMSF numbers hit historic highs

SMSFs members number

The number of SMSFs and their underlying members are at the highest levels recorded, with wind-ups at their lowest for a decade, according to ATO data.

read more
ATO, NALI/NALE

NALI an ATO conflict of interest

NALI ATO conflict interest

Conflict of interest concerns over the multiple roles of the ATO have again been raised due to the magnitude of the NALI penalties.

read more
ATO, Compliance

ATO disqualifies 250 trustees in past year

ATO disqualified trustees

More than 160 SMSF trustees were disqualified in the second half of the last financial year, with more than 250 disqualified across the whole year.

read more
ATO, Tax

Do hours first to meet work test

work test hours

SMSF members should do the actual work required to meet the work test before claiming any contribution deductions that may rely on passing it.

read more

Copyright © SMS Magazine 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.