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Showing 301 - 310 of 1028 results for "Taxation"

ATO warns against SMSF property development

ELIZA BAVIN  |  WEDNESDAY, 10 JUN 2020
The Australian Taxation Office has shared its concerns about a growing number of SMSFs purchasing and investing in the development of real property. The ATO said it strongly encourages SMSF trustees who may be considering property development to seek ...

Enquiry into lacklustre employee share schemes

ELIZABETH MCARTHUR  |  FRIDAY, 29 MAY 2020
... and the effectiveness of the tax laws surrounding them. "In 2015 the government made a number of changes to improve the taxation treatment and regulation of employee share schemes. This inquiry gives us the opportunity to understand why the use of employee ...

SMSFs to weather the storm

ELIZA BAVIN  |  THURSDAY, 28 MAY 2020
... put the money back in and claim a tax deduction on the amount. Franco Morelli, policy manager at the SMSFA, said the taxation office has made it abundantly clear that will not be tolerated. "Anyone who applies for the ERS scheme needs to have been effected ...

Blame put on businesses for JobKeeper error

ELIZA BAVIN  |  MONDAY, 25 MAY 2020
Treasury and the Australian Taxation Office have issued a joint statement in relation to the reporting error in the estimates of the number of employees likely to access the JobKeeper program. The enrolment forms completed by over 910,000 businesses ...

Industry flocks to JobKeeper handouts

KANIKA SOOD  |  THURSDAY, 21 MAY 2020
... services and insurance enrolled for JobKeeper payments, according to an industry-level breakdown from the Australian Taxation Office. JobKeeper enrolments crossed 835,000 businesses employing over 5.5 million workers on May 12. But the most recent industry-level ...

From fines to prosecution: The penalties are in

ELIZA BAVIN  |  THURSDAY, 21 MAY 2020
The Australian Taxation Office has provided insight as to the penalties that will apply to Australians who have accessed the Early Release of Super scheme despite not being eligible. The ATO has urged all Australians to carefully review the eligibility ...

ATO allows ERS access to New Zealanders

ELIZA BAVIN  |  WEDNESDAY, 20 MAY 2020
The Australian Taxation Office is allowing New Zealanders with KiwiSaver accounts to access the Early Release of Superannuation scheme through a loophole. In an update to its Design and Implementation document, the ATO said those with a KiwiSaver account ...

Trustee behaviour in a COVID-19 world

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
SMSF trustee behaviour will be under scrutiny from the Australian Taxation Office and they're set to face some tough penalties if they assist in the illegal early release of super. Under the government's ERS scheme, a number of key issues face SMSF ...

No change of mind for ERS

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
The Australian Taxation Office has said members who change their mind over the Early Release Super scheme will not be able to withdraw their applications. In an update to its Design and Implementation document the ATO outlined that only where there ...

AFP investigates ERS scams

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... investigating a small number of scams in relation to the government's Early Release of Super scheme. The Australian Taxation Office said measures designed to protect the integrity of the early access to super scheme have detected a small number of ...