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Showing 41 - 50 of 266 results for "Tax Office"

ERS payments approach $30bn mark

ELIZA BAVIN  |  MONDAY, 20 JUL 2020
... eligible members have taken an average of 3.2 business days after receipt by funds of the application from the Australian Tax Office (ATO) and 96.2% have been made within five business days. The county's largest fund, AustralianSuper, has made the most ...

ATO data heaps pressure on ASIC's SMSF fact sheet

HARRISON WORLEY  |  MONDAY, 22 JUN 2020
New ATO data has brought ASIC's SMSF expense fact sheet under renewed pressure. Freshly released ATO figures show the median "operating expense" of SMSFs is $3923 a year, a stark contrast from data published by ASIC last year which stipulated the ...

No slowing ERS applications

ELIZA BAVIN  |  TUESDAY, 9 JUN 2020
... to eligible members have taken an average of 3.3 business days after receipt of the application from the Australian Tax Office (ATO) and 95% have been made within five business days. Over the week to May 31, superannuation funds made payments to 177,000 ...

Asgard, Future Super shamed on ERS

ELIZABETH MCARTHUR  |  THURSDAY, 4 JUN 2020
... to members by super funds within five business days after the member is approved for early release by the Australian Tax Office. Labor MP Andrew Leigh expressed concern that chair of the commission Liberal MP Tim Wilson was only enquiring about conflicts ...

Funds have five days to hand over cash: APRA

ELIZABETH MCARTHUR  |  FRIDAY, 17 APR 2020
Once the Australian Tax Office approves a superannuation fund member to access up to $10,000 of their super early the fund will only have five days to hand over the money. As part of the government's economic stimulus package, those who have lost income ...

Super funds face penalties over early release failures

ELIZABETH MCARTHUR  |  TUESDAY, 7 APR 2020
... been impacted by whole industries shutting down in response to COVID-19 that 360,000 registered with the Australian Tax Office to access their super early in just three days. Finance Minister Mathias Cormann was asked on ABC News Breakfast whether he ...

Extraordinary stimulus provides wage subsidy

ELIZABETH MCARTHUR  |  MONDAY, 30 MAR 2020
... will begin on 1 May 2020 and be back paid until today. To be eligible businesses have to register with the Australian Tax Office and be able to prove their revenue has fallen by 30%. The payment will be available for full-time and part-time workers ...

Rent relief welcome news for SMSFs

ELIZABETH MCARTHUR  |  MONDAY, 30 MAR 2020
... commercial premises leased to a related party have been handed some relief form the impacts of COVID-19. The Australian Tax Office has given permission for these SMSFs to now reduce the rent for the 2019/20 and 2020/21 financial years. The news was welcomed ...

Super scammers pose as authorities

HARRISON WORLEY  |  FRIDAY, 27 MAR 2020
... social media post about the encounter may end up saving the super of many Australians, after it led the Australian Tax Office to get in touch. "I've already had the ATO ring me today [Thursday] and say 'Please give us as many details as you can,'" Craggs ...

Australia to lean on super

HARRISON WORLEY  |  MONDAY, 23 MAR 2020
... despite that, Industry Super Australia said its members stood ready to engage with the government and the Australian Tax Office to "make it work". "As we have been indicating publicly, this is an issue that must be handled very carefully in order to ...