News : ATO

myGov anomalies not absolute

July 30, 2020

SMSF trustees should still be able to access their super benefits early under the COVID-19 financial relief measures, even if their myGov account is indicating their funds are invalid, a technical expert has said.

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ATO, Auditing

TPB action key to deterring SAN misuse

July 30, 2020

Tharshini Ashokan

The ATO has welcomed the TPB’s action against tax practitioners who engaged in fraudulent misuse of SMSF auditor numbers (SAN).

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ATO, Superannuation

Few early release recontributions

July 28, 2020

Darin Tyson-Chan

The practice of accessing superannuation early under the COVID-19 relief measure and recontributing the funds back into a super fund to gain a tax benefit has not been common so far, the ATO has said.

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ATO, Compliance

Voluntary disclosure best compliance action

July 21, 2020

Tharshini Ashokan

Trustees should reveal their compliance issues via the ATO’s voluntary disclosure program as soon as possible, the regulator says.

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ATO, Regulation

ATO will seek further NALE input

July 16, 2020

Jason Spits

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.

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ATO, Education