News : ATO

Transitional approach to SuperStream

July 13, 2021

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

July 8, 2021

Tia Thomas

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

July 5, 2021

Tia Thomas

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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ATO, Contributions

Don’t abuse excess charge removal

July 1, 2021

Jason Spits

The removal of a charge on excess concessional contributions should be seen as a favour to super fund members and not an opportunity to exploit its absence.

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ATO, Superannuation

ATO offers interim six-member solution

July 1, 2021

Tia Thomas

The ATO has been forced to introduce a temporary registration system for six-member funds and has advised SMSFs to expect potential delays when registering.

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ATO, Auditing