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Showing 1 - 10 of 409 results for %22Australian Taxation Office%22

Raiding super can worsen housing affordability: Research

KARREN VERGARA  |  MONDAY, 25 MAR 2024
... 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 buyers aged 25-34 ...

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
... 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 by providing ...

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
... 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
... 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 this ...

How advisers protect themselves from 'rogue' clients

KARREN VERGARA  |  FRIDAY, 23 FEB 2024
... 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 your ...

ATO cracks down on illegal early SMSF access

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
The Australian Taxation Office is cracking down on illegal early access to SMSF money, particularly targeting new entrants to the sector who are the main culprits. New analysis from the tax office released at the SMSF Association National Conference ...

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... will also be able to learn more about major issues directly affecting SMSFs. Heffron said this includes the Australian Taxation Office's (ATO) focus on disqualifying people and illegal early release. "I'm hoping we don't see anything too ...

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... rates, significantly favour those with high incomes, in its Tax Expenditures and Insights Statement. As per the Australian Taxation Office's (ATO) latest statistics, there is a pronounced disparity in the distribution of tax benefits from superannuation ...
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