News : ATO

ATO

SuperStream will be applied to certain release authorities

superstream release authorities

The release authorities that will be included in the SuperStream rollover system for SMSFs have been revealed by the ATO.

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ATO

SuperStream-ready services revealed

SMSF SuperStream ATO

The SMSF digital service providers that are already SuperStream ready have been named by the ATO.

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ATO, Superannuation

Visibility changes still need faster data

superannuation visibility

Changes to allow greater visibility of superannuation assets during a separation are positive, but faster collection and reporting of data is still required.

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ATO, Auditing

Auditor independence guideline updated

SMSF auditors guidelines

The independence standards guideline for SMSF auditors published by the ATO has been updated to define certain parameters regarding operational reviews.

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ATO, Technology

Six-member fund registration from mid-August

six-member fund registration

The ATO will need a further four weeks to get its systems in place to handle the registration of six-member funds.

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ATO, Superannuation

Personal TBC data available, but still in flux

personal TBC ATO

The SMSF Association has reminded fund members they can now access their personal TBC information, but it may still change as the ATO updates its records.

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ATO, Property

AAT call casts shadow on 13.22c developments

13.22c real estate developments

Real estate developments in a 13.22c unit trust should be tested with the ATO before commencing after a recent case threw doubt on their validity.

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ATO, Auditing

Transitional approach to SuperStream

ATO SuperStream

The ATO has committed to applying a transitional period for SMSFs that do not comply with the new SuperStream requirements at 1 October 2021.

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ATO, Superannuation

SuperStream start date fixed

SuperStream rollover

SMSF trustees and planners are being advised to prepare for the SuperStream rollover changes with the ATO stating the 1 October start date will not be moved.

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ATO, Auditing

ATO releases new valuation guidelines

SMSF asset valuation

The ATO has updated its SMSF asset valuation guidelines, but has reminded trustees and auditors of the need to have accurate information.

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