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Showing 1 - 10 of 907 results for "Taxation"

Calls for a simplified path to financial advice

ANDREW MCKEAN  |  WEDNESDAY, 15 MAY 2024
... their specialty-whether stockbrokers, comprehensive financial advisors, or life insurance specialists. Key areas such as taxation, financial regulation, ethics, and professionalism are necessary for anyone advising consumers on financial products, she ...

Budget 2024: Regulators given boost to combat misconduct, cybersecurity

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... online fraud by administering and enforcing a mandatory industry code that is to be introduced. Finally, the Australian Taxation Office (ATO) will receive $187 million over four years to strengthen its ability to detect, prevent, and mitigate fraud against ...

ATO introduces trust taxation changes

ELIZA BAVIN  |  WEDNESDAY, 8 MAY 2024
The Australian Taxation Office (ATO) has announced income tax reporting changes under the Modernisation of Trust Administration Systems (MTAS) that will come into effect on July 1. For beneficiaries of a trust, there will be a new trust income schedule ...

ATO flags key focus areas this tax time

ELIZA BAVIN  |  MONDAY, 6 MAY 2024
The Australian Taxation Office (ATO) has announced it will be taking a close look at three key areas where taxpayers make common mistakes this tax season. Incorrectly claiming work-related expenses, inflation claims for rental properties and failing ...

ATO targets crypto investors, sharing economy

KARREN VERGARA  |  WEDNESDAY, 17 APR 2024
Cryptocurrency and the sharing economy are two hotspots the Australian Taxation Office (ATO) will target this financial year as too many investors continue to blunder their tax returns. With a horde of investors jumping on the cryptocurrency bandwagon ...

Treasury mulls transfer balance credit provision reforms

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2024
... it could result in a net increase which could cause their transfer balance cap to be exceeded, resulting in additional taxation or requiring them to commute funds held elsewhere, sometimes both. Treasury is looking to amend the transfer balance credit ...

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 ...
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