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Showing 91 - 100 of 100+ results for "Australian Tax Office"

ATO figures nail in coffin for SMSF critics: SPAA

JAMES FERNYHOUGH  |  FRIDAY, 24 JAN 2014
... their funds responsibly, according to the SMSF Professionals' Association of Australia (SPAA). According to Australian Tax Office figures, in the 2011-12 financial year, SMSFs withdrew $22.3 billion in benefit payments. This compared to overall contributions ...

SMSF regulation to remain 'light touch': Sinodinos

JAMES FERNYHOUGH  |  THURSDAY, 28 NOV 2013
... remains light touch." However, he said he was open to listening to issues people may have regarding how the Australian Tax Office regulates the sector. Sinodinos downplayed concerns about SMSF investment in property. "I think unfairly [SMSFs] have been ...

Could ASIC become the SMSF regulator?

JAMES FERNYHOUGH  |  TUESDAY, 10 SEP 2013
... managing director of The Fold. "There's a discussion at the regulatory level going on about whether the ATO [Australian Tax Office] is the appropriate body to regulate SMSFs given that the obligations of SMSF trustees now is so significant," Wivell Plater ...

Macquarie loses court battle with ATO

JAMES FERNYHOUGH  |  FRIDAY, 6 SEP 2013
Macquarie Group has lost its Federal Court battle with the Australian Tax Office (ATO) over a tax dispute relating to Macquarie's offshore banking unit (OBU) income allocation. Macquarie had been seeking to prevent the ATO from conducting a retrospective ...

Rudd promises to expand Super Clearing House

JAMES FERNYHOUGH  |  FRIDAY, 23 AUG 2013
... Coalition announced that it would get rid of the Clearing House, and offer a similar service through the Australian Tax Office (ATO). Shadow Minister for Financial Services and Superannuation Mathias Cormann justified the move, arguing the Clearing House ...

Bravura signs second SuperStream client

JAMES FERNYHOUGH  |  TUESDAY, 13 AUG 2013
... it entered the Australian market at the end of last year. Earlier this month Babel was certified by the Australian Tax Office to lodge superannuation tax file number integrity check (Super TIC) transactions. Jason Tong, chief operating officer, APAC ...

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 ...