Search ResultsShowing 1 - 10 of 100+ results for "ATO"
Senate secures members' interest changes
HARRISON WORLEY  |  FRIDAY, 20 SEP 2019
... establish if a member is in a risky job." ISA recommended the government allow super funds to obtain occupation data from the ATO, and make use of contributing employers' business type. Welcoming the legislation, $52.6 billion building and construction ...
ATO to crack down on SG non-payment
KRISTI CHENG  |  TUESDAY, 27 AUG 2019
... using Single Touch Payroll (STP) system data to identify and warn employers on non-payment of super guarantee, according to ATO deputy commissioner James O'Halloran. Speaking at the 2019 ASFA National Policy Roadshow, ATO deputy commissioner, superannuation ...
Mainstream shelves super admin business
KARREN VERGARA  |  TUESDAY, 20 AUG 2019
... industry, with APRA regulation driving a wave of mergers within the traditional client base of smaller funds, as well as the ATO assuming responsibility for the administration of low balance accounts from July 2019, Mainstream said. "As a consequence ...
Salary sacrifice loophole bill insufficient: ISA
KRISTI CHENG  |  MONDAY, 19 AUG 2019
... receive super, the reforms "fall a long way short" of addressing the major causes of unpaid super. ISA analysis of 2016-17 ATO data showed the loophole has led to more than 370,000 workers missing out on their super entitlements, totalling $1.5 billion. ...
State Street ETF in franking credit kerfuffle
KANIKA SOOD  |  THURSDAY, 15 AUG 2019
... earned during the period remain uncertain because State Street is not permitted to carry surplus franking credits under the ATO benchmark rule to the next financial year. What is the 'benchmark ceiling' rule? Any managed investment schemes, including ...
ATO warns of SMSF concentration risk
KRISTI CHENG  |  WEDNESDAY, 14 AUG 2019
... The Australian Tax Office is set to contact tense o thousands of SMSFs warning of the risks of being too concentrated. The ATO announced it will be contacting around 17,700 SMSF trustees and auditors at the end of the month who they suspect may be holding ...
ASIC moves against SMSF auditor misconduct
HARRISON WORLEY  |  TUESDAY, 23 JUL 2019
... Finally, Geoffrey Wood was disqualified for signing an inappropriate audit report and failing to provide audit files to the ATO on time despite multiple requests. In addition to the three disqualifications, ASIC also imposed conditions on 14 auditors ...
ATO clarifies SMSF death benefit income streams
KARREN VERGARA  |  MONDAY, 22 JUL 2019
... note on death benefit income streams, which a self-managed superannuation fund specialist has labelled as "confusing". The ATO said SMSFs recently raised a number of questions around the interaction between compulsory cashing requirements when a member ...
Downsizer contributions skyrocket
KARREN VERGARA  |  TUESDAY, 9 JUL 2019
... their superannuation. Members will have 90 days after settlement to make the contribution, but can seek an extension from the ATO. It is not a non-concessional contribution and will not count towards the contributions caps. The downsizer contribution ...
Record number of tax evasion reports
ELIZABETH MCARTHUR  |  FRIDAY, 21 JUN 2019
... tip off line has been ringing off the hook this end of financial year as a record number of people report tax evaders. The ATO received nearly double the amount of referrals from the community about tax evasion this year compared to the same time last ...
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