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Showing 131 - 140 of 201 results for "Australian Tax Office"

Excess contributions penalties soar to $400m

MATT WOODINGTON  |  FRIDAY, 10 JUN 2011
The Australian Tax Office has now raised $400 million through tax penalties on excess super contributions made between 2006 and 2010 with that figure likely to rise yet further. Speaking at an upper house enquiry of the economics legislation committee ...

Software speeds up SMSF creation

ALISON BEVEGE  |  WEDNESDAY, 1 JUN 2011
... securities. "The time saving is horrendous," he said. "No printing or sending back forms." According to Australian Tax Office figures for the March quarter, the number of SMSFs reached 447,620 with a total of 853,653 members. The SMSF sector had a total ...

Good advisers can save clients from tax crackdown

ALISON BEVEGE  |  FRIDAY, 8 APR 2011
... avoidance schemes by refocusing them on their investment objectives, a financial planner said today. The Australian Tax Office has been cracking down on avoidance rorts, questioning more than 130 scheme promoters since July, with three cases reportedly ...

TFN should be member ID: Cooper

MICHAEL HOBBS  |  MONDAY, 5 JUL 2010
... clearinghouse. If the employer fails to provide the data, the panel recommends they should pay a fine to the Australian Tax Office (ATO) for every employee where data is missing and each day it fails to meet obligations. The Cooper Review has also recommended ...

APRA contacts funds on rollover fraud

MICHAEL HOBBS  |  THURSDAY, 6 MAY 2010
... fraudster then receives the money. APRA is calling on super funds to look out for ABR documents with no official Australian Tax Office (ATO) letterhead, requests that list different postal addresses and requests where two trustee names are listed in ...

Co-contribs bungle is costing taxpayers: Hartsuyker

MICHAEL HOBBS  |  MONDAY, 12 APR 2010
The Australian Tax Office's superannuation co-contribution suspension could cost taxpayers at least $1 million, according to shadow minister, Luke Hartsuyker. Hartsuyker, shadow minister for consumer affairs, financial services, superannuation and corporate ...

More SMSFs comply with ATO rules

MICHAEL HOBBS  |  THURSDAY, 18 FEB 2010
Michael D'Ascenzo, commissioner of taxation at the Australian Tax Office, has commended the self managed super fund (SMSF) industry after the number of SMSF trustees that lodged their returns on time rose 11 per cent on the prior lodgement period. Speaking ...

Improving admin could stop fraudsters: SPAA

MICHAEL HOBBS  |  THURSDAY, 26 NOV 2009
... rollover money is moving. SPAA also said APRA funds need a far more robust verification process and the Australian Tax Office (ATO) should also review its processes to guarantee rollover money is being deposited into the right accounts. Slattery said ...

SMSFs not exempt from tough reviews: Bowen

RUTH LIEW  |  FRIDAY, 13 NOV 2009
... interested in stopping them." On the subject of regulation, Bowen said he currently has no plans to change the Australian Tax Office's role as the regulator of SMSFs, although he said the Cooper Review could, in the future, change this decision. "I don't ...

FPs and accountants at odds on SMSF strategies

MICHAEL HOBBS  |  TUESDAY, 20 OCT 2009
... report also found 34 per cent of new inflows are being invested through a platform. This is significant given Australian Tax Office (ATO) data revealed that around 15 to 20 per cent of SMSF assets are held in managed funds. The difference in investment ...