News : ATO

ATO, Compliance & Regulation, Legislation, SMSFA

SMSF reforms in the main supported

The SMSF Association has indicated it is generally supportive of the reforms to the sector the Minister for Financial Services announced last month.

The SMSF Association has indicated it is generally supportive of the reforms to the sector the Minister for Financial Services announced last month.

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ATO, Compliance & Regulation, Legislation, SMSF

New SMSF consumer protections announced

SMSF trustees will have greater disclosure obligations upon fund establishment as part of new government consumer protection measures.

SMSF trustees will have greater disclosure obligations upon fund establishment as part of new government consumer protection measures.

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ATO, Compliance & Regulation, Legislation, SMSFA, Trusts

Clarification needed over Bendel impact

The SMSF Association has pointed out to the ATO the potential repercussions the Bendel case decision might have for the sector.

The SMSF Association has pointed out to the ATO the potential repercussions the Bendel case decision might have for the sector.

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Annual return, ATO, Compliance & Regulation, Regulation

Missing information a SAR problem

Incorrect or missing information is a common cause of problems with SMSF annual returns and more care should be taken before lodging them.

Incorrect or missing information is a common cause of problems with SMSF annual returns and more care should be taken before lodging them.

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ATO, Compliance & Regulation, Pensions

Do not rely on pension breach discretion

Relying on having the ATO exercise its discretionary powers to waive a breach of the pension payment standards is not a dependable strategy.

Relying on having the ATO exercise its discretionary powers to waive a breach of the pension payment standards is not a dependable strategy.

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ATO, Compliance & Regulation, Payday Super, SMSF

ATO issues Payday Super updates

The ATO has reminded SMSFs they are not excluded from Payday Super requirements and have limited time to make the necessary preparations.

The ATO has reminded SMSFs they are not excluded from Payday Super requirements and have limited time to make the necessary preparations.

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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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