News : ATO

ATO, Documentation

Electronic lodgement encouraged

SMSF trustees have been encouraged to lodge activity statements using the ATO’s paperless, online system, which gives them more time to submit documents.

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ATO, SMSF, Trusts

Treatment of UPEs could change

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

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

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, Documentation, Tax

Annual return reminder issued

SMSF trustees have been reminded to lodge their SMSF annual return with the ATO’s February deadline drawing closer.

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ATO, Regulation

Related-party loan angst detailed

Key risk factors that can arise in related-party funding arrangements have been flagged by the ATO for compliance activity if it identifies at least one of them is present.

Key risk factors that can arise in related-party funding arrangements have been flagged by the ATO for compliance activity if it identifies at least one of them is present.

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