News : ATO

ATO, Superannuation

SuperStream-ready services identified

July 30, 2021

Darin Tyson-Chan

The SMSF digital service providers that are already SuperStream ready have been named by the ATO.

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ATO, Superannuation

SuperStream start date set

July 16, 2021

Tia Thomas

SMSF trustees and planners are being advised by the ATO to prepare for the SuperStream rollover changes set to apply from 1 October.

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ATO, Compliance & Regulation

New valuation guidelines released

July 16, 2021

Tia Thomas

The ATO has updated its SMSF asset valuation guidelines, but has reminded trustees and auditors of the need to have accurate information.

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ATO

SMSF rollover alerts introduced

July 2, 2021

Tia Thomas

The ATO has added an SMSF alert service to SuperStream that will notify members when a rollover has occurred.

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ATO

ATO fixes Super Fund Lookup error

June 18, 2021

Darin Tyson-Chan

An anomaly with the ATO’s Super Fund Lookup service that resulted in a number of SMSFs losing their complying status in error has now been rectified.

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ATO, Strategy

Delayed allocations not Part IVA

April 23, 2021

Darin Tyson-Chan

The use of contributions reserves has a very low probability of having the ATO consider it a tax avoidance arrangement.

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ATO

ATO alert system updated

March 26, 2021

Jason Spits

The ATO has expanded the email and text message alert system it uses to notify SMSF trustees when changes take place within their fund.

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ATO, Documentation

Missing details most common SAR error

February 26, 2021

Jason Spits

Missing bank and auditor details have been identified as common errors made by SMSF trustees lodging annual returns, according to the ATO.

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ATO, Documentation

Accounting deadline dropped

December 18, 2020

Jason Spits

Treasury has abandoned a controversial proposal to force SMSFs to finalise financial statements 45 days before the fund lodges its annual return.

Rent relief instrument issued

December 4, 2020

Tharshini Ashokan

The ATO has released a legislative instrument determination addressing COVID-19 rent relief deferrals granted by SMSF landlords to related-party tenants.

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