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Showing 11 - 20 of 857 results for "ATO"

SMC finds $38k nest egg boost for working mums

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... support the accumulation of savings for women during periods when they work part-time and undertake caring responsibilities. ATO data shows there is a significant overlap with this group and LISTO eligibility," the SMC said. The two reforms can boost ...

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... favour those with high incomes, in its Tax Expenditures and Insights Statement. As per the Australian Taxation Office's (ATO) latest statistics, there is a pronounced disparity in the distribution of tax benefits from superannuation contributions ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
... collecting it. This first levy is to be paid by the 10 largest banking and insurance groups based on income reported to the ATO in FY2021-22, with a first instalment expected to be paid within 30 days of receiving an invoice. A second instalment will ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... determination TD 2023/D4 Income tax: deductions for financial advice fees paid by individuals who are not carrying on a business. The ATO proposed adding the deductibility of financial advice fees as tax-related expenses under section 25-5 of the Income ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... through their SMSF was regrettable," he said. ASIC and the Australian Taxation Office jointly regulate the SMSF sector; the ATO has the role of auditing SMSF auditors. Financial adviser misconduct in the SMSF space is rife. One example is former adviser ...

SMSF Association blasts 'highly questionable' ASFA research

ANDREW MCKEAN  |  MONDAY, 11 DEC 2023
... Association has ripped apart the Association of Superannuation Funds of Australia's (ASFA) assertion, which is based on ATO sample data, that less than 1% of SMSFs with balances over $3 million have farm-related income. The government has proposed ...

Payday super timing, deliberate: Chalmers

CASSANDRA BALDINI  |  TUESDAY, 5 DEC 2023
... deliberate and will give employers plenty of time to get it right. Unpaid superannuation is equivalent to wage theft. However, the ATO reported there is an estimated $3.6 billion in unpaid super between 2020 and 2021. In response, the government will ...

ATO recoups $684m in unpaid super

ANDREW MCKEAN  |  WEDNESDAY, 15 NOV 2023
The ATO has recouped and distributed $684 million in unpaid superannuation entitlements to funds and individuals, while also raising over $1.3 billion in super guarantee charge liabilities through compliance actions in the 2022-23 financial year. During ...

Large Australian corporations pay record tax: ATO

ANDREW MCKEAN  |  THURSDAY, 9 NOV 2023
The Australian Taxation Office (ATO) has disclosed that a record-breaking $83.8 billion was paid in income tax by large corporations for the 2021-22 financial year. According to the ATO's ninth annual Corporate Tax Transparency (CTT) report, the income ...

Pepper Money launches SMSF loan offering

CASSANDRA BALDINI  |  MONDAY, 23 OCT 2023
Pepper Money has introduced a new offering, providing loans to self-managed superannuation funds (SMSFs) to purchase or refinance residential and commercial properties. With lending options up to $3 million, the 'super smart' loans are designed for ...