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AUSTRALIAN TAXATION OFFICE
Superannuation
Legislation will be introduced next year to allow trustees to voluntarily transfer any amount of inactive low balance accounts to the tax office, spelling the beginning o...
Superannuation
The tax office will not apply compliance resources regarding the sole purpose test to SMSFs invested in a DomaComa property sub-fund who happen to become a tenant....
Financial planning
The Australian Taxation Office has disputed the allegation by the ‘Your Right to Know’ coalition of media outlets which implies that the tax office can take money direct...
Financial planning
The Tax Practitioners Board has announced it will target 2,000 tax practitioners who were identified as being of the highest risk....
Superannuation
Industry Super Australia has suggested that the Australian Taxation Office delegate superannuation funds and trade unions to pursue superannuation guarantee debts from re...
SMSF
SMSFs that fail to lodge annual returns by the due date and have their compliance status changed do not have the right to appeal to the AAT as the SuperFund Lookup websit...
Policy & Regulation
The Institute of Public Accountants has put its support behind the Government’s reintroduction of the superannuation guarantee amnesty bill....
Policy & Regulation
The major financial services regulators need to be comprehensively audited to ensure they are actually delivering value for money in the work that they do reflecting the ...
Superannuation
Senator Jane Hume has announced an extension of legislation to establish a one-off amnesty for the historical underpayment of super guarantee. ...
Tools & guides
SuperConcepts’ Graeme Colley explains why self-managed super funds are likely to come under more scrutiny following recent court decisions and how trustees and their clie...
Superannuation
The ATO’s handling of punishing employers who do not pay their workers super is negligible at best, ISA believes....
Financial planning
Disability income insurance products and the way they have been designed do not work well for prolonged periods of disability or chronic conditions, according to the anal...
Superannuation
The ATO is looking to audit funds that are invested in a single asset class and will slap a penalty on them if the investment strategy does not meet retirement objectives...
Policy & Regulation
The ATO has revealed 90 per cent of income paid by small business is voluntary, with that same percentage using a registered tax professional....
Policy & Regulation
Double-counting may have led to the Australian Taxation Office wrongly pursuing superannuation fund members over excess transfer balance caps....
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Podcast
The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...
Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...
It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...