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Showing 341 - 350 of 959 results for "ATO"

APRA releases latest ERS data

ELIZA BAVIN  |  MONDAY, 18 MAY 2020
... exceptions (less than 1%), payments to members have been completed within 10 business days from receipt of applications from the ATO." Again, Australian Catholic Superannuation and Retirement was one of the worst offenders, releasing funds within five ...

Super must come together over cybercrime

HARRISON WORLEY  |  THURSDAY, 14 MAY 2020
... case of identity theft put the scheme to a halt, as the AFP begun investigations. Deputy Treasurer Michael Sukkar said the ATO had not been compromised as a result of the fraudulent activity, but still paused the scheme while the ATO looked into whether ...

APRA releases fund-level ERS data

JAMIE WILLIAMSON  |  MONDAY, 11 MAY 2020
... week of the scheme. The average payment was $7629 and the average processing time being 3.1 days following approval by the ATO. Over one million Australians have requested early access, of which 830,000 were paid. The regulator said 82% of the funds ...

ERS paused as AFP investigates fraud

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
Deputy Treasurer Michael Sukkar confirmed the ATO has paused requests for early release being sent to super funds, as the AFP investigates identity theft. Speaking to Sky News this morning, Sukkar emphasised that the ATO has not been compromised and ...

Darwinian time for super

HARRISON WORLEY  |  THURSDAY, 7 MAY 2020
With COVID-19 rapidly shifting the ground beneath them, only the fittest superannuation funds will survive, according to Hostplus' Paul Watson. Appearing as part of a virtual panel discussing mergers in super, Hostplus group executive member experience ...

Trustee behaviour in a COVID-19 world

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... the government's ERS scheme, a number of key issues face SMSF trustees and navigating those issues can be complex, as the ATO releases new information day by day. Interestingly, there is no hard guidelines on what will be considered illegal, as the ATO ...

Early release applications top $9bn

ELIZABETH MCARTHUR  |  THURSDAY, 7 MAY 2020
... than 140,000 members. AustralianSuper said 93% of the applications are being processed within five business days. It comes as ATO commissioner Chris Jordan today told the select committee that over one million people have applied for early release of ...

No change of mind for ERS

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... 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 has been a "genuine mistake" may members alter their ERS applications. The ATO said it ...

AFP investigates ERS scams

ELIZA BAVIN  |  THURSDAY, 7 MAY 2020
... integrity of the early access to super scheme have detected a small number of fraudulent activities associated with the program. "ATO systems were not hacked," the ATO said. "A small number of people appear to have had personal details unlawfully used ...

Software provider launches ERS tech solution

ALLY SELBY  |  WEDNESDAY, 6 MAY 2020
... early release requests. Bravura Solutions has announced an ERS capability that will allow clients to commence processing the ATO's ERS payments from the April 20 commencement date. The government's legislative changes included a reduction in the minimum ...