ATO

Financial planning

The Government has been warned it risks undermining legitimate and well-established financial advice via its plan for the auto-consolidation of low-balance superannuation...

Policy & Regulation

ATO to implement one-stop software for tax agents

All 2018 tax returns will be made via the ATO’s new digital Practitioner Lodgement Service, which will replace the ELS service that has been in place for the past three d...

Financial planning

O’Dwyer seeks answers from ATO

The Government has sought answers from the Australian Taxation Office regarding its conduct after accusations were levelled at its treatment of small businesses on ABC’s ...

Financial planning

ATO seeks to soothe small business

The Australian Taxation Office deputy commissioner – small business has sought to reassure small business that the Office is acting in their best interests....

Financial planning

Should planners link to accountants on tax?

New analysis suggests the Australian Taxation Office’s crack-down on high net worths has created an opportunity for financial planners....

Policy & Regulation

Govt focuses BEAR on big banks

The Federal Government has focused its Bank Executive Accountability Regime on the four big banks, giving smaller institutions an extra year plus more flexibility....

Financial planning

Cryptocurrency owners must be aware of tax changes

New cryptocurrency rules introduced today will see exchanges of the asset reported to AUSTRAC, making transactions more accessible to the Australian Taxation Office....

Superannuation

ATO’s position on reserve allocations ‘unreasonable’

SMSF specialist, David Busoli believes the Australian Taxation Office may have been unreasonable in its interpretation of the law on reserve allocations....

Superannuation

SMSF industry welcomes Fleming’s ATO appointment

The SMSF Association has praised former KPMG partner, Dana Fleming’s appointment as Australian Taxation Office Assistant Commissioner, self-managed superannuation funds, ...

SMSF

ATO promises no more SMSF reporting changes

An Australian Taxation Office assistant commissioner, Kasey Macfarlane, told the SMSF Association Conference that there were no plans to introduce further SMSF reporting ...

Policy & Regulation

ATO grants extension to SMSFs on annual returns

The Australian Taxation Office has given self-managed superannuation funds until 30 June to file their annual returns, acknowledging the extra complexities of transitiona...

Superannuation

ATO reports SMSFs and APRA-funds deliver same returns

Self-managed superannuation funds performed just as well as Australian Prudential Regulatory Authority-regulated funds in 2015-16 with both reporting returns of 2.9 per c...

Life/Risk

ATO’s overseas income project pays dividends

A recent Government report has revealed the degree to which the Australian Taxation Office’s project aimed at encouraging people to declare overseas income boosted the ta...

Financial planning

ATO recognition of advisers comes with obligations

The Australian Taxation Office has made clear that if it grants ‘key intermediary’ status to financial advisers, it will come with conditions around higher standards and ...

Superannuation

Govt opens way for changes to super early release

The Federal Government has initiated a Treasury review of the rules around superannuation early release including whether superannuation should be accessible to compensat...