News : ATO

ATO, Compliance & Regulation

LRBA tax treatment improved

Legislation clarifying and consolidating the tax treatment of limited recourse borrowing arrangements (LRBA) has been introduced into Parliament.

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ATO

ATO NALI decisions on gearing questionable

A window with cracks appearing in it.

The two ATO interpretive decisions (ID) released late last year dealing with the treatment of zero interest related-party loans to SMSFs are flawed, according to an industry expert.

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ATO

ATO ID provides greater life insurance flexibility

A recent ATO interpretative decision (ID) has provided increased flexibility for SMSF trustees in regard to the tax treatment of life insurance cover taken out inside the fund.

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ATO, Investments

Negative gearing not good SMSF fit

Individuals looking to implement a negative gearing strategy to invest in residential property should do so outside of their SMSF, an accounting firm partner has said.

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ATO

ATO calls for SMSF SuperStream urgency

Close-up of a stopwatch

The ATO is urging SMSF trustees who have not taken the necessary steps to make their funds SuperStream ready to receive contributions from medium to large employers to do so before this year’s 30 June deadline.

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ATO, Business news

Industry body calls for sensible tax talks

The SMSF Association has called for the government and industry to have informed dialogue about superannuation tax concessions without reliance on flawed measures like the Treasury Tax Expenditures Statement as justification to make changes to the system.

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ATO

Tax body publishes new SMSF trustee book

Taxpayers Australia has launched a book designed to boost SMSF trustee knowledge and assist them in running their own retirement savings vehicles.

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ATO

ATO pressing on with super garnishees

The Australian Taxation Office is continuing to exercise its ability to garnishee an individual’s superannuation benefits in an effort to recover any outstanding money owing to it.

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ATO, Compliance & Regulation

ATO confirms zero interest loan treatment

The Australian Taxation Office has issued two interpretive decisions reinforcing its stance on zero interest loans issued to SMSFs.

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ATO

ATO not in favour of reserves

ATO assistant deputy commissioner of superannuation Stuart Forsyth

The Australian Taxation Office (ATO) has expressed its concern over the use of reserves within SMSFs and pointed out advisers need to consider these strategies carefully before recommending their implementation as they add a potentially unwanted layer of complexity to running a retirement savings fund.

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