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Showing 101 - 110 of 202 results for "Australian Tax Office"

Bravura gets go-ahead for Super TIC app

JAMES FERNYHOUGH  |  THURSDAY, 8 AUG 2013
Bravura Solutions Limited has been certified by the Australian Tax Office to lodge superannuation tax file number integrity check (Super TIC) transactions through its Babel financial messaging application. Super TIC allows funds to validate a member's ...

No more SMSF tax loopholes for excess concessional contributions

JAMES FERNYHOUGH  |  THURSDAY, 25 JUL 2013
... audience predominantly comprised of financial advisers, Burgess said that for the 2013-14 financial year, the Australian Tax Office will count ECCs as part of taxable income. Burgess said that under the 2012-13 rules, making an ECC reduced your client's ...

SMSFs lose majority of cases against ATO

JAMES FERNYHOUGH  |  WEDNESDAY, 24 JUL 2013
Self-managed superannuation fund (SMSF) trustees are unlikely to win court cases against the Australian Tax Office, according to David Hughes, a partner at law firm Small Myers Hughes. Speaking at the SPAA State Technical Conference in Sydney yesterday ...

Super funds unready for trans-Tasman transfer rules

JAMES FERNYHOUGH  |  MONDAY, 22 JUL 2013
... funds and schemes." This may have caused funds not to have prepared for the changes. However, while the Australian Tax Office states that it is up to the fund whether it accepts transfers from New Zealand, it must transfer balances to New Zealand when ...

ATO reveals dip in number of new SMSFs

JAMES FERNYHOUGH  |  TUESDAY, 28 MAY 2013
... superannuation funds (SMSFs) slowed significantly in the first quarter of 2013, according to figures released by the Australian Tax Office (ATO). Only 5,840 new SMSFs were created in the March quarter, compared with 9,748 in the December quarter of 2012 ...

Deferred annuity tax reforms safeguard retirees

MARK SMITH  |  THURSDAY, 18 APR 2013
... enshrined by legislation, remove inconsistencies between the manner deferred annuities are treated by the Australian Tax Office, compared with other retirement income streams. Under the plans, DLAs will have the same concessional tax treatment that superannuation ...

Low balance members hit with fees under super changes

ALICE URIBE  |  MONDAY, 8 APR 2013
... said. "These costs will be borne by all members not just those with high balances". Mason said that only the Australian Tax Office (ATO) would be able to determine the balances of members, particularly those with multiple accounts. This may mean that ...

AMP SMSF appoints Burgess as new policy head

MARK SMITH  |  WEDNESDAY, 3 APR 2013
... supporting our aligned planners to provide SMSF advice," he said. Burgess currently sits on a number of Australian Tax Office SMSF regulatory and technical working groups and sub-groups. He has also published a number of articles and accredited training ...

New regime for accountants: Shorten

BEN COLLINS  |  THURSDAY, 28 FEB 2013
... deposit products, though not particular deposit products, Shorten explained. Rainmaker research, based on Australian Tax Office figures, recently showed that on average, four self managed super funds (SMSFs) are created every hour.

Industry urged to understand changes to transfer rules

BEN COLLINS  |  THURSDAY, 14 FEB 2013
... funds had too much flexibility with related party transactions, it should not come as a surprise that the Australian Tax Office would be tightening the rules from July this year. From 1 July this off-market transfers will be banned, but Burgess said ...