News : ATO

ATO, Technology

Cyberattack reports denied

The ATO has reassured the public its systems remain secure after rebutting reports in the media it had suffered a cybersecurity attack.

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ATO, SMSF, Trusts

Treatment of UPEs could change

Division 7A, ITAA, SIS Act, UPE, loans, unit trusts, unpaid present entitlements, Division 7A, Income Tax Assessment Act, financial accommodation, Sladen Legal, Phil Broderick, Federal Court, SIS Act, self managed superannuation, self managed super, SMSF

The treatment of UPEs as loans from beneficiaries to unit trusts may no longer stand due to a recent full Federal Court decision.

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ATO, Compliance & Regulation

Onus on trustees for benefits access

superannuation benefits, condition of release, early access, SMSF trustee, illegal access, administrative penalties, disqualification, voluntary disclosure, non-lodgement, SMSF annual return, self managed superannuation, self managed super, SMSF

The ATO has warned trustees they will be held accountable for members who access super without meeting a legitimate condition of release.

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ASIC, ATO, Auditing, Regulation

More SMSF auditors sanctioned

ASIC, SMSF auditor, Australian Securities and Investments Commission, ATO,

ASIC has cracked down on 17 SMSF auditors who failed to meet their compliance obligations, banning some and imposing various disciplinary measures on others.

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ATO, Tax

Compassionate payout must exclude tax

Medical compassionate grounds, Colonial First State, Craig Day, SMSF Association, SMSF Association National Conference 2025, Melbourne, 

Early payments made from SMSFs on medical compassionate grounds must have tax deducted before they are received by the relevant member.

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ATO, Compliance & Regulation, Trusts

Family SMSFs must ponder disqualification

Individuals should consider the implications a serious compliance breach will have before including family members as SMSF trustees.

Individuals should consider the implications a serious compliance breach will have before including family members as SMSF trustees.

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ATO, SMSF, Tax

ATO messaging needs adherence

ATO, Emma Rosenzweig, SMSF National Conference 2025, release authorities, excess contributions, fraudsters, scammers,

The regulator has noticed a disturbing trend whereby SMSF trustees are ignoring critical pieces of correspondence relating to compliance breaches.

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ATO, Investments, SMSF

SMSF returns exceed 10 per cent

Returns across the SMSF sector were above 10 per cent during the 2023 financial year, reinforcing its competitiveness with APRA-regulated funds.

Returns across the SMSF sector were above 10 per cent during the 2023 financial year, reinforcing its competitiveness with APRA-regulated funds.

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ATO, Superannuation

Likely early super release review

superannuation benefits, compassionate grounds, release, Colonial First State, Craig Day, medical procedures, medical treatment, Tim Sanderson, superannuation benefits, compassionate grounds

The recent spike in the early release of super benefits on compassionate grounds could lead to a revision of these rules in the near future.

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