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Showing 461 - 470 of 959 results for "ATO"

ASIC keeps watch on SMSF auditors

DARREN SNYDER  |  MONDAY, 29 OCT 2018
... issues, or on fit and proper person criteria, since the registration of SMSF auditors began in 2013. Australian Taxation Office (ATO) referred 98 cases of the 120 that ASIC probed. The regulator removed 76 SMSF auditors from the auditor register, suspended ...

Unpaid super penalties too light: ISA

DARREN SNYDER  |  THURSDAY, 25 OCT 2018
... approach to unpaid superannuation is becoming a moral hazard whereby employers think they can escape penalty. Testimony from the ATO at the Senate Estimates committee for economics this week included the regulator saying it routinely waives all employer ...

Early release of super, FHSSS gaining traction: ATO

KARREN VERGARA  |  MONDAY, 22 OCT 2018
... superannuation has been released on compassionate grounds just three months into the new financial year, according to the ATO. Of the 10,700 early super release applications received between 1 July 2018 and September 30, more than 6100 were approved ...

Argo Investments attacks Labor franking policy

HARRISON WORLEY  |  MONDAY, 22 OCT 2018
... high dividend-paying Australian shares where the 30% corporate tax has been paid already to the Australian Taxation Office (ATO). It penalises retirees who have saved for their retirement and invested in Australian companies," ASA said. "Our objection ...

Super funds excel in reporting obligation

KARREN VERGARA  |  TUESDAY, 16 OCT 2018
Nearly all large superannuation funds are fulfilling reporting obligations to a "high standard," the ATO's latest diagnostic reports show. In its fourth year running, the 2017 Risk Differentiation Framework (RDF) report found APRA-regulated funds successfully ...

Lost super sits at $17.5bn

KARREN VERGARA  |  MONDAY, 15 OCT 2018
... The total amount of lost and unclaimed superannuation stands at $17.5 billion, new data from the Australian Taxation Office (ATO) shows. During 2017-18, unclaimed super reduced by $420 million, with New South Wales accounting for more than $2.2 million ...

DomaCom concludes Federal Court action

KARREN VERGARA  |  TUESDAY, 25 SEP 2018
... sole purpose test set out in section 62 of the Superannuation Industry (Supervision) Act. Aussiegolfa must pay 40% of the ATO's costs incurred from the first proceeding and the appeal respectively. In relation to the Administrative Appeals Tribunal Appeal ...

Don't use multiple SMSFs to dodge tax: ATO

KANIKA SOOD  |  FRIDAY, 21 SEP 2018
... Office deputy commissioner superannuation James O'Halloran said in his speech to the National SMSF Conference in Melbourne. The ATO believes 13,600 trustees have more than one SMSF at a baseline level. About 35 trustees have more than five SMSFs. O'Halloran ...

Franking credits inquiry launched

HARRISON WORLEY  |  THURSDAY, 20 SEP 2018
... pension income," Maroney said. "The notion that this proposal will only affect the wealthy is simply wrong. An analysis of ATO and Treasury data shows it is those on modest incomes who will be most affected, refuting Labor's argument that the proposal ...

SMSFs outperforming MySuper: Research

KARREN VERGARA  |  FRIDAY, 14 SEP 2018
... five years however, MySuper had a significant edge at 8.4% compared to the SMSF sector's return of 7.3% per annum. Based on ATO data, three-quarters of SMSFs have assets of less than $1 million. Such funds have a higher weighting to cash and lower allocation ...