News : ATO

ATO, Superannuation

ATO clarifies SG clearing house cut-off

Superannuation clearing house

A recent ATO guideline will benefit employers using the regulator’s Small Business Superannuation Clearing House to pay super contributions.

read more
Administration, ATO

SMSFA wants better data access

SMSF ATO data

The SMSF Association is pushing for ATO data to be made available to a greater number of practitioners.

read more
ATO, Superannuation

SMSFs recover after wind-up spike

SMSF sector growth September

Growth in the SMSF sector remained strong in the September quarter, despite a dip in the net number of funds established in the previous quarter.

read more
ATO, Regulation

NALE not critical issue for ATO

NALE ATO

The tax implications for SMSFs resulting from the new non-arm’s length expense provisions are not being seen by the ATO as a major concern, according to a technical expert.

read more
ATO, Superannuation

SMSF collectables under scrutiny

ATO SMSFs collectables

The ATO will use its data matching powers to check if SMSFs are using high value assets for personal use in breach of the law.

read more
ATO, Tax

Excess transfer balance cap excuses rejected

excess transfer balance tax

Trustees have yet to find an acceptable reason to avoid excess transfer balance tax with recent cases proving the onus lay with them to get it right.

read more
ATO, Investments

ATO investment strategy guidance imminent

SMSF investment strategy guidance

Guidance in clarifying acceptable practices in formulating SMSF investment strategies will soon be released by the ATO.

read more
ATO, Auditing

ATO auditor review finds need for improved education

ATO review auditors

More than two-thirds of the 51 auditors studied by the ATO so far as part of its review of the top 100 SMSF auditors required education, the regulator has said.

read more
ATO, Superannuation, Tax

Trustees unaware of ENCC repayment options

trustees excess contribution

Trustees may be unaware they could pay too much to the ATO when responding to excess non-concessional contribution determinations and need to review the options presented to them.

read more
ATO, Compliance

ATO penalties stifling trustees

ATO penalty scheme

The current ATO penalty scheme will push SMSF trustees towards non-compliance and may lead to some giving up on their funds altogether, an SMSF audit expert says.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.