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Showing 21 - 30 of 857 results for "ATO"

Payday super a seismic change for the industry: ART

CHLOE WALKER  |  THURSDAY, 19 OCT 2023
... fund potentially can be something that feeds into payroll, and you actually take someone's TFN and the credentials of the ATO will tell you who that fund is digitally." Gilroy also talked to the scale of potential change that will occur from 1 July ...

HNWs increase digital engagement: Research

CHLOE WALKER  |  THURSDAY, 12 OCT 2023
... HNWs saw," Guiamatsia said. "They actually want to see a lot more of that and perhaps more streamlined data feeds with the ATO and what have you." Automated reporting also came through as an improvement from ultra high-net-worth (UHNW) individuals. "They ...

ASIC cracks down on 11 SMSF auditors

ANDREW MCKEAN  |  WEDNESDAY, 11 OCT 2023
... requirements, and adhering to registration conditions. Notably, these SMSF auditors were flagged and referred to ASIC by the ATO. "SMSF auditors have a critical role in upholding the integrity of the SMSF sector through annual audits," said ASIC deputy ...

Consultation paper released on aligning super payments with wages

ANDREW MCKEAN  |  MONDAY, 9 OCT 2023
... not only offers employees extended time in the fund, amplifying the benefits of compounding returns, but also bolsters the ATO's capabilities for early detection of discrepancies, increasing the likelihood of timely compliance actions to recover unpaid ...

Farmers distressed by superannuation tax overhaul

ANDREW MCKEAN  |  THURSDAY, 5 OCT 2023
... assets in the future. The government claims the reforms will impact just 0.5% of superannuation account holders; however, ATO data suggests non-indexation might result in approximately 500,000 Australians exceeding the cap in their lifetime. "The proposed ...

Treasury consults on PwC-linked reforms

CASSANDRA BALDINI  |  WEDNESDAY, 20 SEP 2023
... jumping 100% from $7.8 million. The government will also look to expand tax promoter penalty laws so they're easier for the ATO to apply to advisers and firms that promote tax avoidance. Further, it will increase the time limit for the ATO to bring Federal ...

Young Aussies flock to SMSFs

KARREN VERGARA  |  THURSDAY, 14 SEP 2023
... new fund establishments in the 2023 financial year. Baby Boomers, aged 57 to 71, account for 21.3% of establishments. Citing ATO data, the median age of members for all newly established funds was 46 years old in FY21, which has reduced from 54.1 years ...

NowInfinity bolsters estate planning capabilities

CASSANDRA BALDINI  |  TUESDAY, 12 SEP 2023
... enable them to easily keep their SMSF deeds and investment strategies up to date and compliant." NowInfinity flagged recent ATO data that shows28% of all SMSFs are established on its platform.

State Super partners with analytics firm

KARREN VERGARA  |  TUESDAY, 29 AUG 2023
The $38 billion State Super has selected a global data and analytics firm that recently launched in Australia to provide portfolio and risk solutions. State Super senior investment manager Alan Chan said the fund chose Premialab for its ability to deliver ...

Government cracks down following PwC scandal

CASSANDRA BALDINI  |  TUESDAY, 8 AUG 2023
... again." The government said it will expand tax promoter penalty laws so they're easier for the Australian Taxation Office (ATO) to apply to advisers and firms who promote tax avoidance. It will also increase the time limit for the ATO to bring Federal ...