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Showing 91 - 100 of 959 results for "ATO"

Early release of super scammers cop prison time

KARREN VERGARA  |  FRIDAY, 31 MAY 2024
... savings over two financial years if members lost a job or 20% of their income. Between 20 April 2020 and 31 December 2020, the ATO received 4.78 million applications totalling $39.2 billion of money yanked out of the super asset pool. It approved 4.55 ...

Lendlease ditches overseas construction

KARREN VERGARA  |  MONDAY, 27 MAY 2024
... billion at the end of financial year 2023. Separately, on May 10 Lendlease announced that the Australian Taxation Office (ATO) will force it to pay $112.1 million from the partial sale of the retirement living business in the 2018. "Since the partial ...

Platform reveals advice firms' top issues

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
... for Statements of Advice. In superannuation discussions, advisers raised concern over the Australian Taxation Office's (ATO) delay in acknowledging a downsizer contribution, the pros and cons of reversionary pension nominations versus binding death ...

Industry reacts to Federal Budget

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... Association Australia (FAAA) said its calls to fix the problems with the CSLR, ASIC funding levy, the financial advice exam cost and ATO portal access have been ignored in this year's Federal Budget. FAAA chief executive Sarah Abood said she is disappointed ...

Budget 2024: Change to foreign investment rules

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... Require foreign residents disposing of shares and other membership interests exceeding $20 million in value to notify the ATO, prior to the transaction being executed "These reforms will also improve certainty for foreign investors by aligning Australia's ...

Budget 2024: Regulators given boost to combat misconduct, cybersecurity

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... 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 the tax ...

FAAA calls for 'fairness' ahead of Budget

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... costs for the CSLR, the FAAA is also seeking enhanced tax deductibility of financial advice, enabling advisers access to the ATO portal, more support for financial adviser education and exam price relief, and to reverse the proposed changes to Reduce ...

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 ...

Proposed super tax obfuscates legacy pensions rules: SMSFA

KARREN VERGARA  |  WEDNESDAY, 24 APR 2024
... draft regulation must also clarify who will be responsible for calculating the value of legacy pensions. "Considering the ATO doesn't have the required information, we assume the funds themselves will be asked to do this calculation and report the value ...