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Showing 101 - 110 of 860 results for "ATO"

Plans to remedy NALI, NALE issues welcomed

JAMIE WILLIAMSON  |  WEDNESDAY, 23 MAR 2022
... should be given an opportunity to rectify the transaction if NALE arose from an inadvertent mistake." The SMSFA added that the ATO has previously stated that if it's a general expense that is not on arm's length terms, and it relates to a service that ...

ASIC stands against suspicious SMSF auditing

CHLOE WALKER  |  MONDAY, 7 MAR 2022
... arrangements, which create self-interest and familiarity and threaten independence. These actions follow referrals to ASIC by the ATO of 18 SMSF auditors, for contravening the independence requirements. Each of the reciprocal audit arrangements involved ...

SMSFA welcomes ATO adjustments

CHLOE WALKER  |  THURSDAY, 24 FEB 2022
The SMSF Association has welcomed adjustments made by the Australian Tax Office (ATO) to align its SMSF performance calculations more closely with the methodology used for APRA-regulated funds. In its 2019-20 SMSF statistical overview report, the ATO ...

SMSF sector grows 11%: ATO stats

JAMIE WILLIAMSON  |  TUESDAY, 22 FEB 2022
The latest annual figures from the ATO show the SMSF sector bounced back from the horrors of COVID-19 to add $80 billion in the year to 30 June 2021. Releasing data today, the ATO said total assets in SMSFs hit $822 billion at 30 June 2021. This is ...

ATO underestimates SMSF performance: Report

CHLOE WALKER  |  WEDNESDAY, 16 FEB 2022
... 2017-2019, comprised of over 489.000 unique observations with data on over 318,000 unique SMSFs. The research found that the ATO's calculation of SMSF investment performance persistently underestimates SMSF performance, with evidence suggesting that ...

Financial watchdog warns on crypto

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
... ability of the fund to discharge its liabilities. "You must also be able to demonstrate that the fund owns the asset. The ATO website contains information about these obligations. "A licensed financial adviser can assist you with formulating an appropriate ...

Retail super fund to be wound up

JAMIE WILLIAMSON  |  TUESDAY, 11 JAN 2022
... inform the fund of a new super product to which their balances will be transferred, save having the funds transferred to the ATO. According to APRA data, in June 2020 CUBS Superannuation was home to just 1200 members while the fund's 2021 annual report ...

Labor pledges calm in superannuation

KARREN VERGARA  |  WEDNESDAY, 15 DEC 2021
... at the event. Both ministers agreed that unpaid super is a significant issue, yet no one can agree on the exact figure. The ATO calculates $3.5 billion while ISA believes the figure to be $5 billion. "It's a big problem, whether it's $3 billion ...

ASIC bolsters leadership

JAMIE WILLIAMSON  |  TUESDAY, 14 DEC 2021
... workplace relations and advisory, remuneration and benefits, and diversity and inclusion. She has previously worked with the ATO and the NSW Department of Premier and Cabinet. Finally, ASIC has also appointed several regional commissioners to work with ...

AMP North further expands menu

KARREN VERGARA  |  FRIDAY, 3 DEC 2021
... Capital signed a major lease agreement with the Australian Taxation Office for a period of 10 years. From December 1, the ATO housed staff across nine floors on 255 George Street, Sydney. The building is owned by the AMP Capital Wholesale Office Fund ...