News : ATO

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.

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ATO, Superannuation

ATO issues super access guidance

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

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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.

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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.

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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.

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ATO, Superannuation

ATO rectifies two recent errors

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

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Accounting, ATO, Auditing

ATO to release banned SMSF trustee register

SMSF; review; industry fund

The names of banned SMSF trustees will be made more accessible to advisers and the public via a new register from the ATO.

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ATO, Retirement, Superannuation

Definition of contribution remains vague

There is no concrete definition of the term contribution in super law and income tax law, which can be problematic for clients.

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ATO, Retirement, Superannuation

ATO stresses commutation authority strictness

Commutation authorities must be actioned in a specific manner to avoid any associated adverse consequences, the ATO has said.

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ATO, Superannuation

Members find super worth over $860m

Super members found and merged over 105,000 super accounts worth more than $860 million last year.

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