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Showing 331 - 340 of 959 results for "ATO"

No slowdown in sight for ERS applications

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
... exceptions (1.4%), payments to members have been completed within 10 or more business days from receipt of applications from the ATO. The 10 funds with the highest number of applications received from the ATO have made 1.09 million payments worth a total ...

SMSFs to weather the storm

ELIZA BAVIN  |  THURSDAY, 28 MAY 2020
... tax system, and this is their time to give back," Heffron said. While some are prepared to bear the brunt of the pain, the ATO has said it is on the lookout for those who instead attempt to rort the system. One potential loophole the ERS scheme exposed ...

TPB cracks down on 74 tax practitioners

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAY 2020
... practitioners to be engaging in "concerning behaviour", including using fraudulent SMSF Auditor Numbers (SANs). In 2019, the ATO started a compliance campaign that involved reviewing SMSF annual returns. It found that 74 practitioners representing 106 ...

Sole purpose test poses SMSF rent relief issue

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAY 2020
... (SISFA) said these possible complications shouldn't put landlords off from trying to help their tenants. It pointed out that the ATO has said its compliance approach for the 2019-20 and 2020-21 financial years is that it will not take action if an SMSF ...

Super not sacred: Rice Warner

HARRISON WORLEY  |  MONDAY, 25 MAY 2020
... the system. The top 100 SMSF's collectively hold about $8.7 billion. Many appear to be run as businesses - according to the ATO, one even has a loan of $168 million against property holdings. Taxing the wealthy first always makes good political sense." ...

ERS withdrawals surpass $10bn

ELIZA BAVIN  |  MONDAY, 25 MAY 2020
... been made to eligible members have taken an average of 3.3 business days to pay after receipt of the application from the ATO and 94% have been made within five business days. Over the week to May 17, super funds made payments to 220,000 members, bringing ...

Blame put on businesses for JobKeeper error

ELIZA BAVIN  |  MONDAY, 25 MAY 2020
... self-assessed as eligible under the scheme indicated that the program would cover around 6.5 million eligible employees. The ATO said its review found around 1000 businesses appear to have made "significant errors" when reporting the estimate of eligible ...

From fines to prosecution: The penalties are in

ELIZA BAVIN  |  THURSDAY, 21 MAY 2020
... 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 criteria and to be honest when applying for the ERS scheme. ...

Advisers involved in ERS scams: ASIC

ELIZABETH MCARTHUR  |  WEDNESDAY, 20 MAY 2020
... against any registered financial advisers in relation to these matters. "In the course of our work, and in cooperation with the ATO, we identified entities (financial advisers, trustees and fund promoters) who were marketing 'free' lost super and consolidation ...

ATO allows ERS access to New Zealanders

ELIZA BAVIN  |  WEDNESDAY, 20 MAY 2020
... 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 are able to access the ERS scheme if they transfer their funds to an Australian super fund. ...

Editor's Choice

Treasury responds to Debelle's review into the AOFM

KARREN VERGARA
Treasury has responded to the Guy Debelle-led review into the Australian Office of Financial Management (AOFM), agreeing to all six recommendations.

Bravura ups guidance, reports earnings increase

RIDDHIMA TALWANI
Bravura Solutions informed investors cost discipline will protect its full year earnings result after a client migrated to a Business Process Outsourcing (BPO) early in the year.

MaxCap hires from Vanguard, AustralianSuper

MATTHEW WAI
MaxCap has welcomed two senior directors, including a portfolio manager from Australia's largest super fund, reporting to the recently named chief executive Kylie Robb.

Zenith snags mandate from Granite Bay

MATTHEW WAI
Granite Bay Private Wealth has selected Zenith Investment Partners to support their investment governance and due diligence.

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