News : ATO

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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ATO, Investments

ATO letters a wider SMSF warning

ATO letters warning SMSF

Letters sent by the ATO to nearly 18,000 SMSFs may serve as a warning to a far greater number of funds with similar strategies, an SMSF expert has claimed.

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ATO, Investments

ATO letters’ impact already evident

ATO letters’ impact already evident

A specialist document provider has revealed many trustees have already been reassessing their investment strategies as a result of the ATO’s letter querying the investment strategy of 17,700 SMSFs invested in a single asset or asset class.

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ATO, Pensions

ECPI discretion success has several elements

ECPI discretion success has several elements

A successful application for ATO discretion to claim exempt current pension income usually involves some common elements, a technical manager has said.

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ATO, Auditing

Auditors in frame for SMSF investment strategy

auditors investment strategy ATO

Auditors may be held responsible for the absence of an investment strategy, with recent letters from the ATO showing they had a gatekeeper role.

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ATO, Investments

CAANZ makes recommendations re ATO letters

ATO SMSF investment strategies

A major accounting body has made recommendations as to how SMSF auditors, administrators and tax agents can play a role in the ATO’s scrutiny of investment strategies.

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ATO, Regulation

ATO unveils plan to stop illegal super access

Illegal access to superannuation

The ATO has implemented a new SMSF registration process and will work with APRA-regulated funds to improve the rollover process as part of its plan to prevent illegal access to super via SMSFs.

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ATO, Residential Property

Funds given push on first home savings scheme

First Home Super Saver

The ATO will contact superannuation funds that have lagged in their efforts to release funds to first home buyer members who have requested their savings.

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