ATO

Superannuation

Early super release scams under guise of Govt

Australians are being targeted by scammers posing to be from Government agencies and that real estate agents are now telephoning tenants to access their super before aski...

Superannuation

Accessing $10k of super is worth $60k in future

A 25-year-old who accessed $10,000 of their superannuation early could lose $60,000 when they retire, an accounting firm warns. ...

Superannuation

ASIC disqualifies and suspends SMSF auditors

The Australian Securities and Investments Commission has announced it has disqualified, suspended or added conditions to the registration for a number of self-managed sup...

Superannuation

Ask an adviser or a tax agent if doubtful on early release says Hume

People who are doubtful about whether to seek hardship early release access to their superannuation should ask a trusted financial adviser or tax agent or visit use an AS...

Financial planning

ISA survey points to early access super rorters

New survey data commissioned by the industry funds suggests that up to a million people seeking early access to their superannuation are actually ineligible because they ...

Features

Tax time in a pandemic

With many people focused on how far their investments have plummeted, it is an opportunity for advisers to contact with their clients on tax to make sure they are making ...

Superannuation

Early access to super no longer than 5 days

The vast majority of eligible Australians should receive early superannuation payments within five business days, according to Australian Prudential Regulation Authority ...

Policy & Regulation

ATO and TPB on alert for COVID-19 rorters

Tax agents and advisers have been warned against trying to manipulate the business and employment policy changes put in place by the Government to deal with COVID-19....

Superannuation

Multiple accounts no impediment to early access says ATO

People will be able to take money from multiple superannuation funds to reach their early access limit, according to information released by the Australian Taxation Offic...

Superannuation

ATO alone wholly responsible for identifying super early release applicants

Amid concerns about appropriately identifying superannuation fund members for hardship early release, the Government has said that the Australian Taxation Office alone wi...

Superannuation

SMSF members can give rental relief

SMSF members will not have action taken against them by the Australian Taxation Office for reducing real property rent for tenants who have been financially impacted by C...

Financial planning

Australia’s high wealth tax gap stands at 7.7%

The Australian Taxation Office has launched a high wealth tax gap noting that it stands at 7.7% or $772 million. ...

Superannuation

Coronavirus, rate cuts and ATO guide highlight need for SMSF advice

Specialist advice for self-managed superannuation funds is necessary to navigate market turbulences caused by external factors, the SMSF Association says....

Superannuation

Unpaid super hit QLD workers

Queensland workers are losing out on more than $1.1 billion a year due to the unpaid super, according to the Industry Super Australia....

Policy & Regulation

ATO to use more education directives

The tax office is imposing more educational directives where self-managed superannuation fund members have breached regulatory contraventions in a bid to prevent reoffend...