News

ATO, Compliance, Documentation

ATO SAR letters require action

ATO correspondence regarding the non-lodgement of SMSF annual returns now has a more serious nature and should not be ignored.

ATO correspondence regarding the non-lodgement of SMSF annual returns now has a more serious nature and should not be ignored.

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NALI/NALE, Property

Business real property NALI danger

The use of business real property and the rent received from it will come under greater scrutiny as the ATO ramps up its NALI compliance activities.

The use of business real property and the rent received from it will come under greater scrutiny as the ATO ramps up its NALI compliance activities.

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ATO, Downsizer, Superannuation

Downsizer contributions remain steady

The number and size of downsizer contributions into superannuation have remained constant, but more women are taking advantage of the scheme.

The number and size of downsizer contributions into superannuation have remained constant, but more women are taking advantage of the scheme.

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Retirement, Superannuation

AMP super class action reaches settlement

The AMP superannuation class action has ended with the firm to pay compensation to fund members who were allegedly overcharged fees on their retirement savings.

The AMP superannuation class action has ended with the firm to pay compensation to fund members who were allegedly overcharged fees on their retirement savings.

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Division 296, SMSF, Superannuation, Tax

Div 296 paused with changes likely

The government seems reluctant for the Division 296 tax legislation to progress in its current form, with amendments likely to be made to the bill.

The government seems reluctant for the Division 296 tax legislation to progress in its current form, with amendments likely to be made to the bill.

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Appointments, Auditing

Banton to leave ASF Audits

One of the leading figures in the SMSF audit space will transition into a consultancy role from the end of this month.

One of the leading figures in the SMSF audit space will transition into a consultancy role from the end of this month.

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Crypto Assets, Digital assets, Investments

OKX launches SMSF crypto-platform

OKX has launched an SMSF digital asset platform to assist trustees integrate digital assets into the portfolios of their funds.

OKX has launched an SMSF digital asset platform to assist trustees integrate digital assets into the portfolios of their funds.

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Division 296, SMSF, Tax

Accountants reissue call for new tax changes

The IPA has called for revisions to the proposed Division 296 tax that allow for the calculation of earnings on realised gains on an individual-member basis.

The IPA has called for revisions to the proposed Division 296 tax that allow for the calculation of earnings on realised gains on an individual-member basis.

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ASIC, Investments

Court orders more action against MIS operator

The Federal Court has ordered action to be taken against more related entities of a scheme operator that attracted money from SMSF investors.

The Federal Court has ordered action to be taken against more related entities of a scheme operator that attracted money from SMSF investors.

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Compliance, Legislation, Regulation

Member numbers determine trustee rules

The number of members included in an SMSF will be the most important factor in determining the obligations and responsibilities of the fund trustees.

The number of members included in an SMSF will be the most important factor in determining the obligations and responsibilities of the fund trustees.

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