News : ATO

ATO, Compliance, Contributions, Tax

No need for zero deduction notification

SMSF members do not have to inform the ATO they are not making a deduction for a contribution even if an auditor requests such documentation.

SMSF members do not have to inform the ATO they are not making a deduction for a contribution even if an auditor requests such documentation.

read more
ASIC, ATO, Auditing, Compliance, Documentation

Client audit files require specificity

Auditors must structure their record-keeping to reflect specific files pertaining to particular clients in order to satisfy their professional obligations.

Auditors must structure their record-keeping to reflect specific files pertaining to particular clients in order to satisfy their professional obligations.

read more
ATO, Budget, Legislation, LRBA, SMSFA

Gearing ban clarity on the way

Treasury is working with the ATO to formulate guidance as to the details regarding the ban on LRBAs used for residential property purchases.

Treasury is working with the ATO to formulate guidance as to the details regarding the ban on LRBAs used for residential property purchases.

read more
ATO, Auditing, Division 296, Valuations

Unlisted valuation proof more critical

Trustees will have to provide solid evidence for the valuation of assets, especially those that are unlisted, as the Division 296 regime begins.

Trustees will have to provide solid evidence for the valuation of assets, especially those that are unlisted, as the Division 296 regime begins.

read more
ATO, Regulation, SMSF

ATO sector regulation review commended

The SMSF Association has applauded the announced planned review into the effectiveness of the ATO’s regulation of the sector.

The SMSF Association has applauded the announced planned review into the effectiveness of the ATO’s regulation of the sector.

read more
ATO, Trusts

SMSF impact of Bendel decision unknown

The recent High Court ruling in the Bendel case may have SMSF implications should the ATO decide to amend an existing sector instrument.

The recent High Court ruling in the Bendel case may have SMSF implications should the ATO decide to amend an existing sector instrument.

read more
ATO, Contributions

ATO information sometimes incomplete

An anomaly in the way the ATO communicates an individual’s contribution history must be considered when using the carry-forward rules.

An anomaly in the way the ATO communicates an individual’s contribution history must be considered when using the carry-forward rules.

read more
ATO, SMSF

Trend to younger SMSF members

The age of people becoming new SMSF members has skewed towards younger individuals, according to new ATO data.

The age of people becoming new SMSF members has skewed towards younger individuals, according to new ATO data.

read more
ATO, Trusts

Bendel ruling handed down

The long-awaited High Court decision regarding the Commissioner of Taxation’s appeal as to the treatment of UPEs has been announced.

The long-awaited High Court decision regarding the Commissioner of Taxation’s appeal as to the treatment of UPEs has been announced.

read more

Copyright © SMS Magazine 2026

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.