News : ATO

ATO will seek further NALE input

July 16, 2020

The ATO will give the SMSF sector a final opportunity to provide feedback on the NALE rules for practitioners and has also defended ASIC’s cost fact sheet.

read more

ATO, Education

ATO trustee course takes shape

July 15, 2020

Darin Tyson-Chan

An SMSF trustee competency assessment is currently being finalised by the ATO.

read more

ATO, Superannuation

Contributions level out after 2017 reforms

July 9, 2020

Tharshini Ashokan

The SMSF sector reverted to normal in 2017/18 after uncharacteristically high contributions in 2016/17, the latest ATO data shows.

read more

ATO, Regulation

Death benefit lump sums unclear

July 7, 2020

Darin Tyson-Chan

The ATO is yet to clarify if multiple lump sum payments can be made from death benefit pensions.

read more

ATO, Superannuation

Sector data has limited relevance

July 6, 2020

Jason Spits

Overall SMSF data can reflect the state of the sector, but has limited application when considered at fund level.

read more

ATO, LRBA

ATO broadens LRBA strategies

July 2, 2020

Darin Tyson-Chan

Limited recourse borrowing arrangements can now legally be structured in more ways due to an instrument released by the ATO.

read more

ATO, Superannuation

SMSF sector grows, new fund numbers drop

July 1, 2020

Tharshini Ashokan

The SMSF sector has continued to grow despite a drop in the number of new funds in the December quarter 2019, the latest ATO statistical report shows.

read more

ATO, Tax

Loan deferrals need safe harbour clarity

June 23, 2020

Darin Tyson-Chan

Further guidance from the ATO is required to indicate how the related-party loan safe harbour rules can potentially be amended for COVID-19 loan deferrals, a technical expert has suggested.

read more

ATO, Superannuation

ATO watching early release claims

June 23, 2020

Jason Spits

The ATO has repeated warnings it will act against people abusing the early release scheme and has informed them they are being tracked.

read more

ATO, Superannuation

Clearer cost data welcomed

June 22, 2020

Darin Tyson-Chan

The latest ATO SMSF statistical overview for the 2018 financial year has been commended by a peak industry body for providing more accurate expense data about the sector.

read more