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Showing 41 - 50 of 862 results for "ATO"

Treasury proposes upping supervisory levies

ANDREW MCKEAN  |  FRIDAY, 26 MAY 2023
... accounting for a $3.6 million reduction in the total financing required. Further, a slight decline (-1.6%) in the levy for the ATO offset the total funding requirement.

High super balance tax needs work: Podcast

CASSANDRA BALDINI  |  THURSDAY, 11 MAY 2023
... problematic." Hutton isn't the only one who shares this view. Earlier in the year Financial Services Council (FSC) analysis of ATO data found a significant portion of Australian taxpayers will breach the cap in their lifetime. It found some 500,000 individuals ...

Budget of missed opportunities: Industry

CASSANDRA BALDINI  |  WEDNESDAY, 10 MAY 2023
... new tax are not overstated," he said. "This methodology discriminates against those funds who can identify and report to the ATO actual taxable earnings attributable to each member." On the other hand, HESTA chief executive Debby Blakey welcomed the ...

What you need to know about the 2023-24 budget

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... delivered no major surprises but flagged that the government will crack down on unpaid super and will put the pressure on the ATO to do better in recovering this money. In transitioning to a green economy, Chalmers ramped up the government's net ...

How this budget was built

ALEX DUNNIN  |  TUESDAY, 9 MAY 2023
... taxpayers - being those earning more $180,000 per year - have already been punished by bracket creep as in 2019-20, according to ATO statistics, they paid two-thirds of all taxes paid by individuals. Company tax revenue, despite the surge in commodity ...

Budget cuts advisers' power bills, admin burden

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... the Australian Taxation Office quicker. "The measures will allow more time for small businesses to amend tax returns, trial ATO independent reviews of audits for an expanded population of small businesses, and reduce the use of cheques," he said. "Unnecessary ...

Labor cracks down on unpaid super

ANDREW MCKEAN  |  TUESDAY, 9 MAY 2023
... vulnerable to exploitation if their employer fails to make the required superannuation contributions. These workers rely on ATO intervention to recover lost super. However, the ATO is only able to recover a paltry 15% of owed superannuation. The government ...

Another round of consultation for veteran super taxation

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
... intended. Firstly, to establish a permanent approach to the proportioning rule for Douglas-affected veterans in line with the ATO's current interim legislative instrument which expires in June. This would ensure the current process for calculating tax-free ...

Payday super to boost retirement savings for millions

ANDREW MCKEAN  |  TUESDAY, 2 MAY 2023
... (SG) at the same time as wages will make it easier for employees to monitor the SG compliance of their employer and for the ATO to compare superannuation payments with wage payments." AIST chief executive Eva Scheerlinck commented: "We know the majority ...

SMSFs weather market storms: Report

CHLOE WALKER  |  WEDNESDAY, 26 APR 2023
... overall performance of the sector," he said. The report also provided further evidence of the risks associated with using the ATO's published SMSF investment performance data to compare the performance of the SMSF sector to the APRA fund sector, Burgess ...