News : ATO

ATO

ATO seeking deeper data on SMSF investments

ATO data SMSF investments

The ATO would like to collect more detailed data on the investments of SMSFs and may consider changes to the annual return to gather it.

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ATO, Pensions

TBAR hampered by lack of real-time data

real-time data transfer balance

The lack of real-time data from the ATO about the transfer balance account (TBA) is hampering the ability of SMSFs to manage pension transfers.

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ATO, Regulation

ATO to include SMSFs in real-time reporting

Real-time reporting ATO SMSFs

The SMSF sector will be part of the ATO’s move towards real-time reporting and until SMSFs are included, employers will be adversely affected, an SMSF expert says.

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ATO, Regulation

In-specie contributions not a NALE loophole

In-specie contributions NALE

The new non-arm’s-length expenditure provisions will still apply to situations where an in-specie contribution has been used to bridge the difference between the purchase price and market value of an asset acquired by an SMSF.

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ATO

ATO letter campaign boosts trustee awareness

ATO investment trustees awareness

The ATO has yet to consider if it will write to trustees again raising concerns over investment strategies, claiming the current campaign has raised sufficient awareness.

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ATO, Superannuation

ATO grants NALE transition period

ATO NALE transition

SMSF trustees have the opportunity to rectify any service provision arrangements involving themselves and their fund to prevent them from falling foul of the new NALE provisions.

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ATO, Compliance

No way out for late lodging SMSFs

ATO SMSF late lodgement

The ATO-imposed change in the online status of SMSF following a late lodgement cannot be reversed, an SMSF service provider has claimed.

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ATO, Documentation

ATO issues annual return reporting reminder

SMSF reporting NALI LRBA

The ATO has reminded trustees of additional reporting requirements around NALI and LRBA that will be included in this year’s SMSF annual return.

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ATO

ATO reaches regulation milestone

ATO anniversary SMSF regulator

The ATO is marking the 20th anniversary of its role as regulator of the SMSF sector.

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ATO, Tax

ATO clarifies tax rules for NALI expenditure

ATO ruling NALI expenditure

The ATO has published a new law companion ruling outlining the proposed amendments to non-arm’s length income provisions.

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