News

Private tax ruling guidance released

May 23, 2023

The ATO has outlined the steps needed to apply for a private ruling but emphasised accurate and complete data was critical for it to properly assess any ruling request.

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Business News, financial advice

FSC appoints Power to board

May 23, 2023

Todd Wills

The Financial Services Council has added an experienced financial executive to its board of directors.

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Administration, SMSF

ATO extends wind-up timeframe

May 22, 2023

Darin Tyson-Chan

The timeframe open for trustees to finalise the closing of an SMSF after the lodging of the final annual return has been extended.

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Retirement, Superannuation, Tax

CGT concessions a super bonus

May 22, 2023

Darin Tyson-Chan

The small business CGT concessions can be of great benefit for individuals who have not accumulated much super while running their own enterprises.

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ATO, SMSF

Notice of intent must be acknowledged

May 22, 2023

Todd Wills

The ATO has reminded trustees they must acknowledge any Notices of Intent received and update SMSF details promptly prior to the end of the financial year.

Drop separate labelling of advisers

May 22, 2023

Jason Spits

The labelling of advisers based on their education pathway is confusing for consumers and should be relegated to advice documents and marketing material.

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financial advice

Digital advice requires human element

May 22, 2023

Jason Spits

The definition of digital advice should also include the involvement of humans and the development of hybrid models rather than purely technology driven services.