ATO

Policy & Regulation

ATO refines data-matching of share trades

Advisers and their clients have been put on notice to maintain a tighter focus on share trades with the Australian Taxation Office now capable of matching share trades ag...

Superannuation

Pay SG at same time as wages, says ISA

Industry Super Australia is urging the Government to legislate to compel employers to pay the superannuation guarantee at the same time they pay wages to overcome continu...

Funds management

ATO will not appeal DomaCom SMSF ruling

The Australian Tax Office will not appeal the DomaCom self-managed superannuation fund ruling....

SMSF

Reporting date looming for SMSFs

The clock is ticking for self-managed superannuation funds on a quarterly transfer balance cap schedule, with their first lodgement due in three weeks....

Policy & Regulation

DomaCom backs down claim of legal victory

Domacom has been forced to back down from a declaration that its legal fight with the Australian Taxation Office was finished, after differing interpretations of the High...

Funds management

DomaCom-supported Federal Court matter ends

Proceedings supported by DomaCom in the Federal Court against the Australian Taxation Office regarding the interpretation of superannuation regulations have drawn to a cl...

Superannuation

ATO to issue excess transfer balance cap notices

The Australian Taxation Office will start issuing excess transfer balance cap determinations to taxpayers with over $1.6 million in their super in the pension phase....

Policy & Regulation

ATO to review top 100 SMSFs

The Australian Taxation Office has signalled its intention to review the top 100 self-managed superannuation funds on issues such as dividend stripping and other forms of...

Financial planning

ATO gets adviser info from foreign interests push

The Australian Taxation Office has revealed that Project DO IT provided “valuable intelligence” about financial institutions and advisers that may have been involved in o...

Accounting

Triennial audits will compromise compliance: SuperConcepts

The self-managed superannuation fund sector fears that the Government’s three-yearly audit proposal will compromise compliance quality and unduly burden the ATO, SuperCon...

Policy & Regulation

Phoenix Hotline will oust dodgy directors

The Government has established a Phoenix Hotline to combat the phoenixing activity of dishonest directors and their companies. ...

SMSF

Crypto exchange Cointree targets SMSF space

After identifying interest from customers wanting to purchase cryptocurrency with their super, Cointree is partnering with SMSF accounting services provider New Brighton ...

Policy & Regulation

ATO cracking down on individual tax debt

The Australian Taxation Office has revealed an income tax gap of $8.7 billion for individuals not in business for FY2015, warning that they were planning to crack down on...

Financial planning

IPA says SG amnesty will help small businesses

The Institute of Public Accountants has come out in support of a 12-month superannuation guarantee amnesty period as it would help “mainly compliant” employers from small...

Superannuation

ATO to speed up early super release

Responsibility for the administration and early release of superannuation on compassionate grounds has been transferred to the Australian Taxation Office. ...