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Showing 91 - 100 of 100+ results for "ATO"

ATO prepares for end of ERS

ELIZA BAVIN  |  THURSDAY, 5 NOV 2020
The Australian Taxation Office (ATO) has announced the end of year shutdown and program closure arrangements for the early release of super (ERS) scheme. Since April 3.3 million Australians have taken over $34 billion out of their retirement savings ...

RBA, CBA, NAB partner for wholesale currency

ANNABELLE DICKSON  |  TUESDAY, 3 NOV 2020
The Reserve Bank of Australia has announced a partnership with a consortium of financial institutions and a blockchain technology company to develop a wholesale central bank digital currency (CBDC) using distributed ledger technology (DLT) for settlement. ...

Public servants caught in SG bungle

KARREN VERGARA  |  THURSDAY, 29 OCT 2020
... significant progress in rectifying the situation by way of upgrading its payroll system, and lodging SG statements with the ATO for the majority of current and former employees owed super.

Crackdown on SAN misuse continues

ELIZA BAVIN  |  WEDNESDAY, 28 OCT 2020
A fourth tax agent has been deregistered for misusing an SMSF Auditor Number (SAN) as the Australian Taxation Office (ATO) continues its crackdown on SAN misuse. Following a referral from the ATO in relation to identified SAN misuse, the Tax Practitioners ...

Ask and you shall receive

ELIZA BAVIN  |  MONDAY, 26 OCT 2020
... the government's Early Release of Super (ERS) reveals that 98% of applications received by the Australian Taxation Office (ATO) have been paid out by funds. The prudential regulator said that as at October 18, 98% of the applications received since the ...

Tax Practitioners Board adds members

ANNABELLE DICKSON  |  MONDAY, 19 OCT 2020
... also served as principal - taxation at EY. She is a member on a number of of the Law Council of Australia's committees, the ATO not-for-profit Stewardship Group and the Advisory Committee for the Board of Taxation. Stephens has a wealth of tax experience ...

Super industry cautious on more reform

ELIZABETH MCARTHUR  |  TUESDAY, 6 OCT 2020
... account erosion from fees and the creation of new duplicate accounts," Loane said. "The government's commitment to implement an ATO portal to help consumers select a high performing fund, and new APRA powers to weed out chronic underperformance, is a ...

MySuper funds face new test, member bans

KANIKA SOOD  |  TUESDAY, 6 OCT 2020
... $159.6 million over four years from FY21 to implement the reforms to superannuation. Three other measures announced include: an ATO-run portal for selecting MySuper accounts, stapling accounts and members, and a greater obligation of transparency and ...

SMSF changes unlikely to mushroom new funds

KANIKA SOOD  |  FRIDAY, 25 SEP 2020
... though four members have been allowed, so far majority of SMSFs (93%) only had two or fewer members in 2017-18 according to ATO. "This pattern of membership, where 7% of funds or fewer have more than two members, has been constant over the at least the ...

Amnesty unearths $588m unpaid super

KARREN VERGARA  |  MONDAY, 21 SEP 2020
Over half a billion dollars of unpaid superannuation has been reunited with workers, as employers take advantage of the amnesty period to "wipe the slate clean". About 24,000 employers have admitted to underpaying staff approximately $588 million in ...