Since the introduction of the ATO early engagement and voluntary disclosure service for SMSF trustees, two issues have dominated notifications to the facility.

The ATO has identified the treatment of personal services income among SMSF trustees as a key focus of its compliance activity regarding tax planning practices.

The ATO has revealed it will deliver new guidance to the industry, including practical examples and the commissioner’s views, when the bill for the superannuation measures reaches Parliament.

The ATO has flagged it will ramp up its attention on SMSF auditors to determine whether quality and independence standards are being met and it will also assess low-cost audits following industry concerns.

The ATO has provided DomaCom with advice that will pave the way for trustees and members to invest in family property via the company’s fractional property offering.

The ATO today released a new tax determination (TD) addressing the remaining issues with limited recourse borrowing arrangements (LRBA) and the non-arm’s-length income (NALI) provisions in the income tax law.

The ATO will be releasing further guidelines for non-bank limited recourse borrowing arrangements (LRBA) within the next few days.

The ATO has called for the forging of a partnership-type relationship between itself and practitioners in regard to technical issues, as it will result it a stronger SMSF sector.

The ATO’s approach to the segregation of single assets remains unclear, with one specialist law firm questioning whether the regulator’s initial interpretation of the practice is correct.