australian taxation office

Financial planning

Questions about impact of industry association

Some industry representatives have expressed concerns that the Self-Managed Superannuation Fund Professionals' Association of Australia (SPAA) is not having a real impact...

Superannuation

Superannuation tax penalties don't fit the crime

Macquarie Adviser Services technical expert David Shirlow points to superannuation "policy weakness" in a session with Financial Services Minister Chris Bowen....

Superannuation

SMSFs may be way of the future: Cooper

The chairman of the Government’s Super System Review, Jeremy Cooper, said SMSFs may be the way of the future as more people seek to take control of their retirement savin...

Superannuation

SPAA questions ATO insurance ruling

SPAA's technical director, Peter Burgess, has questioned a draft ATO ruling issued late last year....

Superannuation

ATO maintaining scrutiny on SMSFs

Professionalism in the SMSF industry has improved greatly, but the ATO must remain firm with the sector, said Tax Commissioner Michael D'Ascenzo....

Superannuation

ATO SMSF systems creating confusion

The SPAA has criticised the ATO for the way it handles new SMSFs in its Super Fund Look Up system, claiming that new SMSFs do not appear to be compliant....

Financial planning

ATO use of 'access without notice' powers sound

A Commonwealth and Taxation Ombudsman report has found that the ATO has established sound guidelines in the use of its 'access without notice' powers....

Editorial

SMSFs and pensions - the asset test exemption minefield

The Heffron technical team take a look at the current state of play for defined benefit pensions and the social security asset test exemption rules and how they affect SM...

Superannuation

Tougher guidelines for releases to SMSFs

Transfers from major superannuation funds into self-managed superannuation funds (SMSFs) will be subjected to higher levels of scrutiny following moves by the Australian ...

Financial planning

GESB proposes member selected default super fund

The current employer selected default fund model for super should be replaced with a fully member choice driven model rather than a national default fund, says GESB....

Editorial

Releasing the potential of transition to retirement strategies

A number of recent changes to superannuation have had a significant impact on the wealth creation capacity of transition to retirement strategies. Martin Breckon weighs u...

Editorial

How to avoid a large excess contributions tax bill

Troy Smith outlines strategies for avoiding a large excess contributions tax bill in cases of simple or small miscalculation....

Financial planning

NIA calls for review of ATO approach to unpaid present entitlements

The National Institute of Accountants (NIA) is calling on the Government to reflect the Australian Taxation Office’s (ATO's) revised draft position on unpaid present enti...