ATO

Accounting

Accountants defend ATO’s SMSF jurisdiction

The ICAA has defended the ATO’s SMSF jurisdiction while suggesting consumers need to take more responsibility for their advice outcomes....

Superannuation

Superannuation and the growing gap between insurance policy and practice

As superannuation governance increases in complexity, finding common ground between insurance policy and practice is becoming a near-impossible dream, writes Dimitri Diam...

Editorial

Where to now for the Financial Ombudsman Service?

If financial planners were given a choice between the model underpinning the Superannuation Complaints Tribunal and that underpinning the Financial Ombudsman Service, wha...

Financial planning

Call for third umpire to balance policy objectives

Actuaries Institute recommends creation of commission to oversee financial systems policy and decide on policy conflicts....

Accounting

Declare interests before crackdown: ATO

The Australian Taxation Office (ATO) is pushing all taxpayers with offshore assets to declare their interests before it starts a global clampdown on tax evasion....

Superannuation

SMSF assets still dominated by Aussie shares

While the quantum of overseas shares held in SMSFs has been increasing, it is still miniscule as a percentage of total SMSF assets. ...

Superannuation

Law firm urges Aussies to round up lost super

Slater & Gordon has launched a campaign to encourage “ordinary Australians” to track down lost super....

Policy & Regulation

SPAA applauds new SMSF penalty regime

New legislation that empowers the tax office to hand out reformist penalties to SMSF trustees who inadvertently break the law has been praised by SPAA....

Superannuation

Case for lowering SMSF levy

SPAA has argued the self-managed super fund levy could come down substantially after recent government measures saw the clearing of the tax amendments backlog....

Superannuation

Govt warned on super insurance fall-out

The FSC has warned that around 500,000 people could have their superannuation-related insurance impacted by lifting the lost-member super threshold to $6000....

Superannuation

Higher illegal early release penalties welcomed

New legislation has lifted the penalty regime around illegal early release super schemes....

Superannuation

Non-lodging SMSFs declared non-persons

The Australian Taxation Office is cracking down on non-lodging self-managed super funds, declaring them as non-persons if they do not lodge two or more returns....