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Showing 1 - 10 of 901 results for "Taxation"

Raiding super can worsen housing affordability: Research

KARREN VERGARA  |  MONDAY, 25 MAR 2024
... balances - a cohort which would largely comprise low-income earners," the paper read. The research looked at the Australian Taxation Office (ATO) data of 300,000 people to assess the distribution of superannuation balances for prospective first-home ...

Treasury releases draft legislation for new $3m super tax

ELIZA BAVIN  |  TUESDAY, 19 MAR 2024
... balance of $3.5 million may have no taxable income under the existing tax law concepts but would still be liable for taxation under Division 296. "It is greatly concerning that the introduction of such deep inequities are being considered for inclusion ...

ATO refers SMSF auditors to ASIC

JAMIE WILLIAMSON  |  THURSDAY, 14 MAR 2024
... Fifteen self-managed super fund (SMSF) auditors have been reprimanded for performing in-house audits. The Australian Taxation Office (ATO) referred 15 SMSF auditors to ASIC following a review of files from audit firms. ASIC said it had concerns that ...

AFCA secures $40m in refunds

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
... referred to the Australian Prudential Regulation Authority and eight were referred to other agencies such as the Australian Taxation Office in the first half of FY23/24. "While AFCA is not a regulator, we operate within the broader regulatory framework ...

FAAA calls on ATO to provide clarity over advice fees

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
The Financial Advice Association Australia (FAAA) has called on the Australian Taxation Office (ATO) to build upon the progress it made in its public release of revised tax deductibility guidance in December 2023. The FAAA said the ATO should further ...

Government promises transparent financial services regulation

KARREN VERGARA  |  WEDNESDAY, 13 MAR 2024
... ASIC, APRA, the Australian Competition and Consumer Commission (ACCC), Reserve Bank of Australia (RBA), and Australian Taxation Office (ATO) will all be part of the grid. The Customer Owned Banking Association (COBA) has been advocating for the initiative ...

Major decline in group insurance coverage: ASFA

ANDREW MCKEAN  |  WEDNESDAY, 28 FEB 2024
... fees and insurance costs. It introduced fee adjustments, moved inactive accounts with low balances to the Australian Taxation Office, and required the cancellation of insurance on inactive accounts not receiving contributions for 16 months. Following ...

GBST upgrades WealthConnect platform

ANDREW MCKEAN  |  WEDNESDAY, 28 FEB 2024
... allowing a greater focus on value-added services." Meanwhile, WealthConnect's calculation engine that generates cash flow, taxation, and net worth projections, allowing for the comparison of different scenarios through the Advice Wizard - a tool that ...

How advisers protect themselves from 'rogue' clients

KARREN VERGARA  |  FRIDAY, 23 FEB 2024
... and effective strategies, Bobbin said, that work for advisers. Another simple method is making use of the Australian Taxation Office's (ATO) "fantastic documents" and tools for advisers and SMSFs available in PDF format on its website. "Issue them to ...

Proposed super tax requires perspective: Expert

KARREN VERGARA  |  THURSDAY, 22 FEB 2024
... [off] in super even with Division 296." But in terms of capital growth, what members will "hate about Div 296" is the taxation of unrealised gains. If an asset is increasing in value, Division 296 will bring forward the taxation point. "All of the [asset's] ...
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