ATO

Financial planning

Counting the business costs of incorrect contractor classifications

Clients who run businesses should be extremely careful in classifying those they engage as contractors, as the wrong decision can result in many unfavourable outcomes, wr...

Editorial

SMSF eligibility rules and your responsibilities

Too much attention on the details can mean forgetting about the fundamentals. David Court traces the intricate eligibility rules applying to SMSFs and the consequences of...

Policy & Regulation

One million lodge tax return online in only five weeks

More than one million people have already lodged their tax return online using e-tax, the Australian Taxation Office's (ATO's) free tax preparation and lodgement service....

Superannuation

Tax office scrutiny comes with SMSF control

Being declared as a non-complying fund is the one thing all SMSF trustees really want to avoid. Robin Bowerman outlines some of the key focus areas of the Australian Taxa...

Superannuation

SPAA labels ATO ruling unfair, inequitable

The ATO has been urged to rethink its draft ruling on the taxation of pensions after death amid concerns it is being unfair and acting against the spirit of the tax laws....

Superannuation

ATO death benefit interpretation

Cavendish Superannuation has pointed to the ATO's reaffirmation of the death benefit interpretation....

Financial planning

Questions over draft phoenix legislation

New draft legislation designed to protect workers' superannuation from phoenix companies has an excessively long lead in and also has vague requirements that could trap n...

Financial planning

ATO clamps down on GST fraud

Australian Taxation Office (ATO) commissioner Michael D'Ascenzo has renewed his promise to clamp down on GST fraud and failure to report cash income, after a WA director ...

Superannuation

ATO avoids trust 'nightmare'

Fast action by the ATO is claimed to have averted an administrative nightmare around the taxation of trusts....

Editorial

What can go wrong with capital gains tax contributions

Deborah Wixted explains what happens when good capital gains tax contributions go bad. ...

Financial planning

ATO warning on FBT

The ATO has issued a warning on fringe benefit tax (FBT) requirements with respect to employee share trusts....

Superannuation

Avoiding SMSF tax traps

Craig Day reveals some timely advice on how to avoid the end of financial year SMSF traps....

Financial planning

Clearing house costing $177 per transaction

The Federal Opposition has claimed that the super clearing house is costing $177 per transaction due to lack of interest by small business....

Financial planning

ATO warns of tax time crackdown

The Australian Taxation Office (ATO) is warning investors to steer clear of tax avoidance schemes and seek independent financial advice as the end of the financial year r...