australian taxation office

Superannuation

SMSF trustees cautioned on ATO approach

Law firm cautions SMSF trustees to be prepared for a more probing approach from the ATO this year....

SMSFs protected against fraud, says SPAA

Claims that SMSFs have no recourse against fraud and theft are simply not true, according to SPAA....

Superannuation

Some SMSF investors misinterpret ATO decision

Lawyer warns that some investors are misinterpreting the rule changes around renovating older dwellings....

Superannuation

Excess contributions tax crisis averted

A recently finalised court case has given us new and valuable insights into when the Commissioner's discretion to disregard contributions is likely to be exercised. David...

Superannuation

SPAA warns on tax deductions

SPAA points to the danger of SMSF trustees under-claiming on tax deductions....

Superannuation

A guide to the new SMSF trustee remuneration laws

Jennifer Brookhouse outlines the potential complications related to the new SMSF trustee remuneration rules....

Superannuation

Accountants urge simpler tax approach on trusts

Amid the ATO's confirmation that it will again be focusing on trusts, the Institute of Chartered Accountants has called for a simpler tax regime....

Financial planning

ATO sets its sights on SMSFs

The Australian Taxation Office has unveiled a new program for the 2012-13 financial year that will put the spotlight firmly on self-managed superannuation funds....

Financial planning

Financial Services Council's FATCA debate goes to Washington

Financial Services Council chief executive John Brogden has lobbied Washington for an intergovernmental agreement to resolve the FATCA debate....

Superannuation

ASFA calls for removal of regulatory leftovers from old super surcharges

ASFA has called on the ATO to amend the Rollover Benefits Statement and Member Contributions Statement reporting requirements now while the industry consults on SuperStre...

Financial planning

ATO eyes dividend access share arrangements

The Australian Taxation Office has warned taxpayers against individuals promoting dividend access share arrangements....

Terminally ill risk super tax bill

Terminally ill clients who attempt to roll over their superannuation could end up with a big tax bill, warns OnePath technical services manager Scott Quinn....

Superannuation

SPAA wants superannuation pension stream clarified

SPAA has called on the ATO to clarify superannuation income streams so SMSFs are not caught out by new legislation....

Superannuation

Estate planning considerations when commencing a pension

SMSFs need to carefully consider the estate planning ramifications before commencing a pension or their beneficiaries might face serious tax consequences, explains Nichol...

Superannuation

Director penalty changes have superannuation implications

Accounting firm RSM Bird Cameron has warned company directors that they need to make themselves aware of changes to director penalty notices, which include changes to pay...