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Search ResultsShowing 1 - 10 of 100+ results for "ATO"
ERS costs big super funds
ELIZA BAVIN  |  MONDAY, 30 NOV 2020
... of the payments. Of the $36 billion paid out so far, the 10 funds with the highest number of applications received from the ATO have made 3.1 million payments worth a total of $23.2 billion. AustralianSuper leads the pack, having paid out $4.88 billion. ...
Super tax structure less progressive: RIR
ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
... pose a number of challenges. This is because superannuation funds currently administer superannuation earnings tax, but the ATO holds information about people's marginal tax rates."
Aussies reunited with $1bn in lost super
ANNABELLE DICKSON  |  THURSDAY, 19 NOV 2020
... Association of Superannuation Funds (ASFA) estimates 700,000 Australians will receive lost super after super funds have sent ATO's latest consolidating lost and inactive account balances. People with inactive super accounts with balances of less than ...
Hume scrutinises super fund spend
KARREN VERGARA  |  MONDAY, 16 NOV 2020
... employees do not nominate a fund or provide any details. Instead, employers will obtain such information directly from the ATO so superannuation will continue to be paid into employees' existing fund. "While many Australians have benefitted greatly ...
Fake tax agent penalised
ANNABELLE DICKSON  |  WEDNESDAY, 11 NOV 2020
... tax affairs managed by a person without the requisite qualifications. However, it was Caolboy's cooperation with the TPB and ATO that led to a lower penalty as she admitted to the contraventions and voluntarily disclosed the client records and her income ...
Three advisers banned for non-financial crimes
ELIZABETH MCARTHUR  |  FRIDAY, 6 NOV 2020
The UK's Financial Conduct Authority (FCA) has banned three people from working in financial services due to sex offences they had committed. The FCA's decision to ban the three individuals comes after Megan Butler, executive director of supervision ...
ATO prepares for end of ERS
ELIZA BAVIN  |  THURSDAY, 5 NOV 2020
The Australian Taxation Office (ATO) has announced the end of year shutdown and program closure arrangements for the early release of super (ERS) scheme. Since April 3.3 million Australians have taken over $34 billion out of their retirement savings ...
RBA, CBA, NAB partner for wholesale currency
ANNABELLE DICKSON  |  TUESDAY, 3 NOV 2020
The Reserve Bank of Australia has announced a partnership with a consortium of financial institutions and a blockchain technology company to develop a wholesale central bank digital currency (CBDC) using distributed ledger technology (DLT) for settlement. ...
Public servants caught in SG bungle
KARREN VERGARA  |  THURSDAY, 29 OCT 2020
... significant progress in rectifying the situation by way of upgrading its payroll system, and lodging SG statements with the ATO for the majority of current and former employees owed super.
Crackdown on SAN misuse continues
ELIZA BAVIN  |  WEDNESDAY, 28 OCT 2020
A fourth tax agent has been deregistered for misusing an SMSF Auditor Number (SAN) as the Australian Taxation Office (ATO) continues its crackdown on SAN misuse. Following a referral from the ATO in relation to identified SAN misuse, the Tax Practitioners ...
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