News : ATO

ATO, Compliance & Regulation, Contributions, Legislation

Release authority non-compliance grows

The ATO has indicated a larger number of SMSFs are failing to act on release and commutation authorities issued to them.

The ATO has indicated a larger number of SMSFs are failing to act on release and commutation authorities issued to them.

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ATO, Compliance & Regulation, Legislation, Scams

Alert regarding dental work funding

The ATO and the advocacy body for health practitioners are concerned some operators may be advocating inappropriate access of super.

The ATO and the advocacy body for health practitioners are concerned some operators may be advocating inappropriate access of super.

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ATO, Compliance & Regulation, Scams

Warning over suspicious SMSF schemes

The ATO has stated SMSF schemes have key characteristics and features that should act as warning for trustees to avoid them.

The ATO has stated SMSF schemes have key characteristics and features that should act as warning for trustees to avoid them.

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ATO, Compliance & Regulation, Legislation

No ATO discretion for prohibited loans

The ATO has no discretionary power to provide any compliance relief to SMSF trustees who have provided a prohibited loan.

The ATO has no discretionary power to provide any compliance relief to SMSF trustees who have provided a prohibited loan.

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ATO, Compliance & Regulation, Contributions, Superannuation

myGov cannot be sole information source

Super fund members should not completely rely on the myGov concessional contributions data if the carry-forward rules have been used.

Super fund members should not completely rely on the myGov concessional contributions data if the carry-forward rules have been used.

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ATO, Compliance & Regulation, Legislation

ATO worried about prohibited loans

The ATO has revealed a noticeable rise in prohibited loans being issued from SMSFs to other parties is causing it great concern.

The ATO has revealed a noticeable rise in prohibited loans being issued from SMSFs to other parties is causing it great concern.

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ATO, Auditing, Compliance & Regulation

SAR lodgement issues continue

SMSF annual return non-lodgements remain high, with the ATO tracking all funds and acting on those that appear to have serious breaches.

SMSF annual return non-lodgements remain high, with the ATO tracking all funds and acting on those that appear to have serious breaches.

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ATO, Compliance & Regulation, Documentation, Regulation

Common admin errors revealed

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

Common errors trustees are making with regard to SMSF annual returns have been recognised and revealed by the sector regulator.

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ATO, Compliance & Regulation

Regulator SAR letters need response

ATO correspondence regarding the non-lodgement of SMSF annual returns now has a more serious nature and should not be ignored.

ATO correspondence regarding the non-lodgement of SMSF annual returns now has a more serious nature and should not be ignored.

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ATO, Auditing, Compliance & Regulation

Trustee declaration obligation tweaked

The ATO has moved to provide a more practical compliance solution for situations where an SMSF’s original trustee declaration cannot be located.

The ATO has moved to provide a more practical compliance solution for situations where an SMSF’s original trustee declaration cannot be located.

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