News : ATO

ATO

ATO issues TBAR, bank account reminders

June 28, 2021

The ATO has issued eleventh-hour reminders to SMSF trustees to complete urgent housekeeping activities to ensure the smooth running of their funds.

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ATO, Superannuation

ATO introduces SMSF rollover alerts

June 22, 2021

Tia Thomas

The ATO has added an SMSF alert service to SuperStream that will notify members when a rollover has occurred.

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ATO

Super Fund Lookup error fixed

June 21, 2021

Darin Tyson-Chan

An anomaly in the ATO’s Super Fund Lookup service that resulted in a number of SMSFs losing their complying status in error has now been rectified.

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ATO

ATO confirms TBC info availability

June 17, 2021

Darin Tyson-Chan

The date when individuals can begin to access their personal transfer balance cap information after the application of indexation has been confirmed.

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ATO, Tax

ATO reminds trustees of PAYG obligations

June 15, 2021

Tia Thomas

The ATO has reminded trustees of the PAYG obligations for members who receive a super benefit payment as the reporting due date closes in.

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ATO, Technology

Super Fund Lookup error surfaces

June 10, 2021

Darin Tyson-Chan

A malfunction of the ATO’s Super Fund Lookup register has resulted in some SMSFs erroneously losing their complying status on the system.

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ATO, Contributions, Strategy

Reserving process key to avoiding ATO scrutiny

June 9, 2021

Jason Spits

Contribution reserving strategies have been given the green light by the ATO, but correct processes remain central to avoiding compliance action.

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ATO, Insurance

Prior insurance vital for collectables

June 8, 2021

Tia Thomas

Trustees who invest in collectable and personal-use assets inside an SMSF are being advised by the ATO to consider insurance before purchasing the asset.

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ATO, NALI/NALE

NALE shift targets small funds

June 7, 2021

Jason Spits

The ATO’s broad-brush view of NALE will hit more small fund members than those trustees seeking to exploit non-arm’s-length rules.

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ATO

ATO updates valuation guidelines

June 7, 2021

Tia Thomas

The ATO has released a new guideline for the valuation of assets, and reminds SMSFs to stay on top of their reporting obligations in a number of key areas.

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