News : ATO

ATO, Tax

Pushback begins on deduction limit for tax affairs

Efforts by the ATO to limit deductions by SMSF trustees for managing their tax affairs are meeting early resistance and should be overturned, according to a specialist SMSF adviser.

read more
Administration, ATO

ATO to speed up establishment procedure

The time lag from when an SMSF is established to when it is able to receive contributions is going to be significantly shortened.

read more
ATO

SMSF wind-ups drop to historic lows

The latest ATO data has shown SMSF wind-ups have dropped to historic lows while the overall number of funds continues to climb.

read more
ATO, LRBA, Superannuation

Low balances, one-stop-stops still LRBA concerns

The ATO remains concerned about low balance SMSFs using LRBAs and the provision of advice related to the arrangements.

read more
ATO, Strategy

ATO highlights professional advisers’ role in compliance

Professional advisers have been recognised by the ATO for their work in ensuring SMSF trustees maintain their obligations.

read more
ATO, Superannuation

ATO issues super access guidance

The ATO has warned SMSF trustees about the seriousness of accessing their superannuation benefits illegally.

read more
Accounting, ATO, Documentation

Accountants should use peers for SMSF paperwork

Accountants should consider using their peers to produce financial statements for their own SMSFs to avoid raising flags with the ATO.

read more
ATO, Property, Superannuation

ATO provides tips on FHSSS forms

The ATO has offered tips for fund members who are required to complete the First Home Super Saver Scheme release authorities.

read more
ATO, Auditing

ATO letters flag auditor number misuse

Auditors have received letters from the ATO with a list of SMSFs to verify the correct use of auditor numbers.

read more
ATO, Superannuation

ATO rectifies two recent errors

Two recently detected documentation errors have been addressed by the ATO.

read more

Copyright © SMS Magazine 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.