News : ATO

ATO

ATO shares investment guidance

February 18, 2020

Tharshini Ashokan

The ATO has released trustee guidance based on the outcomes of its letter-writing campaign to 17,700 SMSFs last year.

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ATO

ATO fixes ESA alert error

February 17, 2020

Tharshini Ashokan

The ATO has confirmed it is working on the recent electronic service address (ESA) issue that has resulted in SMSF trustees receiving direct alerts from the regulator in error.

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ATO, LRBA

ATO begins intermediary LRBA consultation

February 13, 2020

Tharshini Ashokan

The ATO has announced its draft legislative instrument regarding intermediary limited recourse borrowing arrangements is open for consultation until mid-March.

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ATO, Superannuation

ATO death benefit ruling raises questions

February 11, 2020

Jason Spits

A private ruling by the ATO on the timing of a member benefit payment has raised questions about whether it is consistent with tax and super law.

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ATO

New ATO facility proving popular

February 11, 2020

Darin Tyson-Chan

A significant number of taxpayers are already using the ATO’s myGovID facility

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ATO, Tax

Tax case law has NALE solution

February 10, 2020

Jason Spits

Established and tested tax case law should inform how the ATO will treat non-arm’s-length expenditure (NALE) within an SMSF, an SMSF lawyer has suggested.

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ATO

TBC indexation not for 2020

February 3, 2020

Tharshini Ashokan

The ATO has announced indexation of the general TBC will not go ahead in July and also reminded trustees investing in property of their GST obligations.

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ATO

ATO cuts six-member fund work

January 29, 2020

Jason Spits

Two key measures introduced as part of federal budgets have been removed from the ATO’s work schedule after supporting legislation failed to enter parliament.

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ATO, Investments

Detailed investment strategy guidance coming

January 29, 2020

Jason Spits

New guidance on SMSF investment strategies will soon be released, with an expert tipping the ATO will roll out detailed assistance for trustees.

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ATO, Auditing

Audit standards need to lift

January 20, 2020

Darin Tyson-Chan

A specialist practitioner has called for improved professional standards from the auditing community, given the results of the ATO’s review of the top 100 SMSF auditors to date.

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