Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 121 - 130 of 860 results for "ATO"

Employers unaware of YFYS, stapling: Study

ELIZABETH MCARTHUR  |  THURSDAY, 7 OCT 2021
... could improve proactive engagement. "Any help is better than none. I assumed the stapling was between the employer and the ATO. Anything that will help an employer would be good," one employer was reported as saying. Another employer gave this feedback ...

Failing Asgard super option to close

JAMIE WILLIAMSON  |  WEDNESDAY, 29 SEP 2021
After failing the inaugural Your Future, Your Super performance test, Asgard Employee Super will shutter next month, with many members being transferred to BT's Retirement Wrap. Members of the fund were actually notified ahead of the performance ...

ATO will not pursue erroneous JobKeeper payments

KARREN VERGARA  |  MONDAY, 13 SEP 2021
... of JobKeeper despite raking in large profits, nor will it ask small businesses to repay $180 million claimed in error. The ATO revealed that over one million businesses received nearly $89 billion in JobKeeper payments, a wage subsidy introduced by the ...

Tax agent banned for dishonesty

ANNABELLE DICKSON  |  FRIDAY, 10 SEP 2021
... amounts of business losses and work-related expense deductions. The claims were incorrect and Jakkampudi also failed to meet the ATO lodgement dates for Truecare. This resulted in penalties being imposed on him. "Mr Jakkampudi was wilful in his deceit ...

SMSF establishments soar

ANNABELLE DICKSON  |  MONDAY, 6 SEP 2021
... superannuation funds (SMSFs) is on the rise with increased establishments and fewer wind ups in the year to June end, data from the ATO shows. There are currently 597,900 SMSFs with 1.1 million members. Throughout the year ending June 2021, there were ...

ERS re-contributions won't be taxed

ELIZABETH MCARTHUR  |  FRIDAY, 3 SEP 2021
... towards their non-concessional contributions cap. These contributions can be made between 1 July 2021 and 30 June 2030. The ATO clarified: "COVID-19 re-contribution amounts are not a new type of contribution. They are a personal contribution that we ...

Family law super reform passes

ANNABELLE DICKSON  |  FRIDAY, 3 SEP 2021
... superannuation assets in family law proceedings. Treasury Laws Amendment (2021 Measure No. 6) Bill 2021 (Schedule 5) allows the ATO to share information when an individual applies to the court to request their former partner's superannuation information. ...

Why are YFYS test scores a secret?

KANIKA SOOD  |  THURSDAY, 2 SEP 2021
At the AIST's annual investment conference, APRA general manager superannuation Katrina Ellis was asked if the regulator is keen on transparency, why it didn't publish the quantum by which MySuper products passed or failed the inaugural YFYS ...

How will members respond to the YFYS test results?

KANIKA SOOD  |  WEDNESDAY, 1 SEP 2021
... letters is a key question for at least 13 funds. "It seems to me that the way that information is presented on the online [ATO] tool -- and I understand that this is currently still under improvement -- but it might be giving wrong signals to different ...

Industry Fund Services executive departs

KANIKA SOOD  |  FRIDAY, 13 AUG 2021
... IFS formed a working group to identify ways to improve the collection of unpaid super, including via collaboration with the ATO. In June, the head of group life consulting services for IFS Insurance Services Harumi Hancox joined AIA as its head of strategic ...