australian taxation office

Policy & Regulation

ATO change eases the sale of deceased estates

STEP Australia has welcomed new guidelines on capital gains tax announced by the Australian Taxation Office as a way to ‘simplify and clarify’ the process of deceased est...

Policy & Regulation

Give TPB more powers says CPA Australia

CPA Australia wants the Tax Practitioners Board to be given more power including the ability to impose banning orders....

Policy & Regulation

TPB warns on unregistered tax agents

The Tax Practitioner’s Board has issued a warning that people who use unregistered tax agents do not receive safe harbour protections when things go wrong....

Superannuation

Not working? Check on your insurance inside super, ISA says

Industry Super Australia has warned that super fund members need to ensure they’re not throwing letters from their funds in the bin or marking emails as spam, as that cou...

Superannuation

Remediation could impact tax and super

The Australian Taxation Office has warned compensation payments from superannuation funds in the fallout of the Banking Royal Commission could have both tax and super imp...

Financial planning

Don’t file tax too early says IPA

Individuals are being advised not to be too hasty with filing their tax returns early as there are additional complexities in play this year. ...

SMSF

SMSFs sitting happy in latest ATO data

Self-managed superannuation funds both outperformed other super fund options and saw a decrease in operational costs, according to the latest statistics from the Australi...

Policy & Regulation

Accounting body alleges the ALP misled the public on advice fees

Labor has been accused of spreading “significant misinformation” on accountants’ fees for providing tax advice, with a major industry body saying that its figures on fees...

Policy & Regulation

Tax agent registration terminated for overclaiming expenses

The Tax Practitioners Board has terminated the tax agent registrations of Wollongong tax agent for overclaiming expenses on behalf of their clients. ...

Policy & Regulation

Few Budget surprises in financial services

The financial services industry has delivered the Budget a muted response in circumstances where the Treasurer, Josh Frydenberg, had announced most of the Government’s fi...

Policy & Regulation

Accountants baulk at more industry funding for TPB

Big accounting group CPA Australia has warned the Government against seeking to impose a full industry funding model for the Tax Practitioners Board when accountants are ...

Superannuation

AAT decision puts past offenders on notice

The Administrative Appeals Tribunal has upheld a decision to refuse Superannuation Warehouse’s application for a limited Australian financial services licence, after its ...

Policy & Regulation

ATO SMSF auditor referrals to ASIC “steadily increasing”

The Australian Taxation Office has said that it’s already referred 37 SMSF auditors to the Australian Securities and Investments Commission since last June, as part of th...

Superannuation

AMP acknowledges super hit

AMP Limited has acknowledged a multi-million impact flowing from the Government’s legislative changes to superannuation including transferring 370,000 low balance account...

Superannuation

Quarterly super payments costing workers $225 million

Industry Super Australia has found that the average Australian worker misses out on $12,475 from their super balance as a result of legislation allowing infrequent paymen...