Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 51 - 60 of 408 results for "Australian Taxation Office"

ASIC crackdown: Action taken against 13 SMSF auditors

ELIZA BAVIN  |  WEDNESDAY, 2 OCT 2024
... SMSF auditors and cancelled the registration of one. All SMSF auditors were referred to ASIC by the Australian Taxation Office (ATO). Between 1 July 2023 and 30 June 2024, ASIC made 46 decisions in relation to the registration of approved SMSF auditors. ...

GESB adopts Protecting Your Super reforms

JAMIE WILLIAMSON  |  MONDAY, 30 SEP 2024
... for 16 months or more, unless notified otherwise, and transfer inactive low balance accounts to the Australian Taxation Office. As a result of the changes to insurance eligibility, GESB said it is reviewing its insurance offering and amending it to "align ...

ATO revises advice fee tax deductibility rules

JAMIE WILLIAMSON  |  THURSDAY, 26 SEP 2024
The Australian Taxation Office (ATO) has confirmed financial advice fees for tax-related guidance are deductible where the advice is provided by a Qualified Tax Relevant Provider (QTRP). Releasing a final guidance yesterday, the ATO said: "Fees for ...

Early release of super scammer sent to prison

KARREN VERGARA  |  TUESDAY, 24 SEP 2024
A Western Australian woman who illegally obtained $202,000 for herself and others via an early release of superannuation scam has been sentenced to three years' imprisonment. The unnamed High Wycombe woman was sentenced at the Perth District Court ...

Lost super bill sits at $18bn: ATO

JAMIE WILLIAMSON  |  TUESDAY, 17 SEP 2024
Despite the Australian Taxation Office's best efforts, there is still close to $18 billion in superannuation yet to be reunited with those who earned it. That's according to the latest figures, which show there's currently $17.8 billion in lost and ...

ATO seeks submissions on defining an 'employee'

ELIZA BAVIN  |  WEDNESDAY, 3 JUL 2024
The Australian Taxation Office (ATO) has issued a draft update to its tax ruling TR 2023/4 for consultation which determines when a person is considered an employee under the Superannuation Guarantee (Administration) Act 1992 (SGAA). The draft update ...

New inspector-general of taxation appointed

ELIZA BAVIN  |  MONDAY, 24 JUN 2024
... Taxation and Taxation Ombudsman (IGTO) plays in providing independent oversight and investigation of the Australian Taxation Office (ATO) and Tax Practitioners Board's (TPB) administrative practices". "The government would also like to thank the outgoing ...

Average super balances fall

ELIZA BAVIN  |  TUESDAY, 18 JUN 2024
... financial year revealed the average superannuation balance fell from $170,000 in 2020-21 to $164,000. The Australian Taxation Office (ATO) released its annual taxation statistics report, showing the total tax revenue collected by the ATO was $530.1 billion ...

GST rebate changes worsens cost of advice: SMSFA

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
... member's super account. SMSFA head of policy and advocacy Tracey Scotchbrook said the timing of the Australian Taxation Office (ATO) announcement from last year was unfortunate. Given all the focus on reducing the cost of advice, this announcement, which ...

More businesses fold, unpaid super recovery measure to launch

KARREN VERGARA  |  THURSDAY, 6 JUN 2024
... whether the claims will result in a better recovery of superannuation guarantee charge (SGC)." The Australian Taxation Office (ATO), however, remains the priority creditor for outstanding SGC in insolvent estates. "As at 30 June 2023, the ATO estimated ...