ATO

Superannuation

SMSFs face legal battle for 50/50 property rights

SMSFs that combine to purchase property could face legal action despite the legality of the purchase, executives advised at the Institute of Chartered Accountants SMSF co...

Financial planning

No reason for APRA to regulate SMSFs

SPAA strongly rejects suggestions SMSFs should be pushed into APRA jurisdiction....

Superannuation

SMSFs less prone to illegal early release

ASFA urges government to change direction on illegal early release on SMSFs, claiming the problem has diminished....

Superannuation

Extension of ATO powers on SMSFs urged

ASFA urges the Government to extend the ATO's ability to use administrative penalties with respect to SMSFs....

Superannuation

AIST urges APRA supervision of SMSFs

AIST chief executive Fiona Reynolds suggests SMSFs have grown too large for effective ATO supervision....

Superannuation

More superannuation changes 'unthinkable'

The prospect of further Government changes to superannuation and the removal of tax breaks currently in place for self-managed super funds (SMSFs) is unthinkable, accordi...

Superannuation

ATO flexible on 'single acquirable asset' rules

The Australian Taxation Office (ATO) has indicated that if a share order is executed in two 'parcels' due to market conditions it will still be treated as a single acquir...

Policy & Regulation

ATO cracks down on tax fraud

Over the 2011-12 financial year, the Australian Taxation Office (ATO) successfully prosecuted 2000 individuals and companies for fraud, tax and superannuation offences....

Superannuation

SPAA tells Govt hands off superannuation

Self-Managed Super Fund Professionals' Association warns Government against further superannuation tinkering to bolster its promised Budget surplus....

Superannuation

ICAA's SMSF forum examines change

SMSF specialists will have the opportunity to hear key speakers and themes at the Institute of Chartered Accountants Australia National SMSF Conference....

Financial planning

Zero interest related-party loans acceptable, says ATO

The ATO has reconfirmed that interest payments are not an essential feature of a loan, potentially opening the door for zero-interest related party loans to self-managed ...