australian taxation office

Policy & Regulation

Agribusiness looks to make the most of small business tax breaks

Australian Bight Abalone will be producing a new PDS in July to take advantage of tax breaks being offered to small businesses by the Federal Government....

Financial planning

ATO provides assistance to small businesses with tax debts

Businesses with an annual turnover of less than $2 million with an activity statement debt will be offered a twelve month general interest charge (GIC) free payment arran...

Superannuation

ATO warns against breaching rules in SMSF transactions

Certain transactions may breach in-house asset rules and trustees should be wary of suspect arrangements....

Financial planning

Tracking down super statements now in temporary residents' hands

ASFA has succeeded in gaining relief from the requirement to track down temporary residents whose super monies have been transferred to the ATO, a move which will represe...

Superannuation

Super tinkering: how it will affect your clients

SAM WALL responds to financial planners’ top queries following the recent Federal Budget....

Life/Risk

ATO warning on uncommercial insurance

Businesses are being warned against entering into uncommercial insurance arrangements in pursuit of tax deductions....

Financial planning

Cracks emerge in ATO super reporting systems

There was a fair amount of confusion when the concessional contribution caps were introduced in the 2006 Federal Budget, and now it appears the ATO's own systems are misc...

Financial planning

ATO to target 'phoenix' arrangements

Additional funding from the 2009 Federal Budget will be used to target companies that phoenix in order to avoid meeting their employees' superannuation requirements, the ...

Financial planning

ATO fraud surveys found wanting

The Australian National Audit Office has identified shortcomings in the way the ATO surveys serious non-compliance and defines fraud....

Financial planning

ATO warning on retail premium payments

The Australian Taxation Office has issued a warning to taxpayers who have received retail premium payments....

Superannuation

Budget changes prompt ATO SMSF warning

The Budget changes to superannuation arrangements have prompted the ATO to issue a warning to SMSF trustees about the use of negotiable instruments....

Superannuation

Dangers still lurk when borrowing in SMSFs

There are still a number of legal issues that need to be resolved by the ATO and Treasury in relation to borrowing within SMSFs, and these grey areas represent a potentia...

Superannuation

Property acquisitions and SMSFs

CRAIG DAY considers whether trustees of an SMSF can intentionally acquire a residential property from a related party of the fund....