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Showing 81 - 90 of 967 results for "ATO"

Super fund fees exploit Australians' low financial literacy

ANDREW MCKEAN  |  WEDNESDAY, 16 OCT 2024
Vanguard Investments Australia managing director Daniel Shrimski believes Australians would be shocked to learn how much is being drained from their retirement savings through super fund fees. New research commissioned by Vanguard, conducted by CT Group ...

Pride Advice acquires two Adelaide-based firms

MATTHEW WAI  |  TUESDAY, 8 OCT 2024
Pride Advice has acquired two firms, flagging there is more "room for growth to come." The acquisitions of Adelaide-based Flexible Lifestyle Solutions and Serious Money have expanded Pride Advice's team from four to 11 advisers and to 30 supporting ...

ASIC crackdown: Action taken against 13 SMSF auditors

ELIZA BAVIN  |  WEDNESDAY, 2 OCT 2024
... 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. Of ...

Fund manager splashes $240m on AZ NGA

KARREN VERGARA  |  TUESDAY, 1 OCT 2024
A global investment manager has injected $240 million in AZ Next Generation Advisory (AZ NGA) and will become its largest shareholder. Oaktree Capital Management will help AZ NGA further expand its reach as its growth and succession partner, taking ...

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
... applications to access the early release of super by using myGov accounts to claim to be other super account holders. SFCT chief and ATO deputy commissioner John Ford said: "This outcome sends a clear message to the community that we do bring those who ...

Payday Super penalties ramped up ahead of legislation

JAMIE WILLIAMSON  |  WEDNESDAY, 18 SEP 2024
... failure to pay on time) Where payment of the SG charge is delayed, additional interest and penalties will be applied by the ATO, comprising: A general interest charge that will continue to accrue daily until payment is made and will also apply to any ...

Growth of SMSFs, Div 296 opportunity for advisers

MATTHEW WAI  |  WEDNESDAY, 18 SEP 2024
... this is a result of the age group creating their funds at a young age and maintaining them into their retirement. Further, ATO data shows around 65% of all SMSFs have existed for more than a decade.

Lost super bill sits at $18bn: ATO

JAMIE WILLIAMSON  |  TUESDAY, 17 SEP 2024
... latest figures, which show there's currently $17.8 billion in lost and unclaimed superannuation contributions sitting with the ATO and super funds. Of those, $471 million is owed to people aged over 65. Lost super is held by super funds where the member ...

Australians robbed of super savings

ANDREW MCKEAN  |  WEDNESDAY, 28 AUG 2024
... introduced to Parliament, and details of its implementation remain unclear. The government also announced increased funding for the ATO to boost unpaid super recovery rates, with new targets requiring the ATO to report on the timeliness of its recovery ...