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Showing 81 - 90 of 959 results for "ATO"

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 ...

SMSFs thrive amid ATO compliance complications

MATTHEW WAI  |  THURSDAY, 25 JUL 2024
... She did however raise a crucial struggle for SMSF trustees, advisers and accountants, stating that the ongoing changes to ATO processes have proven to be relatively challenging. "Compliance with the ATO's event-based reporting is emerging as a new challenge ...

Former director disqualified for breaching obligations

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... September 2019 and March 2021. Combined, the three companies owe close to $6 million to creditors, including $482,289 to the ATO and more than $500,000 to a range of small businesses. ASIC found Oey acted improperly and failed to meet his obligations ...

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
... 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 IGT ...

Average super balances fall

ELIZA BAVIN  |  TUESDAY, 18 JUN 2024
... 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 for ...

QIC splashes $32m on PEP acquisition

KARREN VERGARA  |  WEDNESDAY, 12 JUN 2024
Queensland Investment Corporation (QIC) lent $32 million to back Pacific Equity Partners' (PEP) acquisition of ATOM Group, an industrial and safety goods distributor. QIC Private Debt made the transaction via PEP's Fund VII. PEP flagged late ...

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 ...