News : ATO

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.

read more
ATO, Compliance & Regulation

ATO details admin penalty remission appeals process

The Australian Taxation Office has published details of the procedures SMSF trustees can follow if they wish to challenge the severity of a remission decision regarding the new administrative penalty regime for contraventions of the Superannuation Industry (Supervision) Act.

read more
ATO

New ATO video shows support for corporate trustees

ATO assistant deputy commissioner of superannuation Stuart Forsyth

A new information video produced by the Australian Taxation Office to assist trustees with SMSF establishment has given the strongest indication yet that the regulator would prefer funds with a corporate trustee structure.

read more
ATO

ATO monitoring trustee seminars

A resort.

The Australian Taxation Office is closely monitoring trustee education seminars, particularly those being held overseas, to make sure the associated strategies and investments fall into line with the sole purpose test.

read more
ATO, Documentation

ATO seeking extra contributions documentation

The Australian Taxation Office has begun asking SMSF trustees for additional supporting documentation as part of the new reporting rules for deferred contributions.

read more
ATO

ATO to focus on loans in 2013/14

Rules to watch in the months ahead

The Australian Taxation Office (ATO) will focus a large part of its compliance activity on loans within SMSFs in the 2014 financial year.

read more

Copyright © SMS Trustee News 2025

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.