News : ATO

Contributions level out after 2017 reforms

July 9, 2020

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

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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ATO, Superannuation

Wind-ups peak but growth continues

June 22, 2020

Jason Spits

New ATO data shows the level of SMSF wind-ups peaked in 2017/18, but the size of the SMSF sector continues to grow steadily.

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ATO, Tax

Not all NALI is off ATO radar

June 16, 2020

Jason Spits

The ATO’s recent ‘no-action’ stance on some non-arm’s-length income (NALI) positions has overshadowed the fact that other provisions have applied since 2018.

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