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Showing 1 - 10 of 851 results for "ATO"

How advisers protect themselves from 'rogue' clients

KARREN VERGARA  |  FRIDAY, 23 FEB 2024
... strategies, Bobbin said, that work for advisers. Another simple method is making use of the Australian Taxation Office's (ATO) "fantastic documents" and tools for advisers and SMSFs available in PDF format on its website. "Issue them to your clients ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... have a critical role to play in stemming misconduct in the SMSF sector more than ever. This comes to light at a time when the ATO and ASIC remain vigilant against the illegal early access of superannuation that is especially rampant within the SMSF sector. ...

ATO cracks down on illegal early SMSF access

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
... the 2020-21 period, SMSFs lost about $255 million from illegal withdrawals while $170 million was protected at registration. ATO deputy commissioner for superannuation and employer obligations Emma Rosenzweig told the conference that across these years ...

Conference to address major SMSF issues

KARREN VERGARA  |  TUESDAY, 13 FEB 2024
... to learn more about major issues directly affecting SMSFs. Heffron said this includes the Australian Taxation Office's (ATO) focus on disqualifying people and illegal early release. "I'm hoping we don't see anything too draconian, but it ...

SMC finds $38k nest egg boost for working mums

KARREN VERGARA  |  MONDAY, 12 FEB 2024
... support the accumulation of savings for women during periods when they work part-time and undertake caring responsibilities. ATO data shows there is a significant overlap with this group and LISTO eligibility," the SMC said. The two reforms can boost ...

Treasury details winners from tax concessions on super contributions

ANDREW MCKEAN  |  THURSDAY, 1 FEB 2024
... favour those with high incomes, in its Tax Expenditures and Insights Statement. As per the Australian Taxation Office's (ATO) latest statistics, there is a pronounced disparity in the distribution of tax benefits from superannuation contributions ...

CSLR estimates $241m to fund backlog of complaints

JAMIE WILLIAMSON  |  TUESDAY, 9 JAN 2024
... collecting it. This first levy is to be paid by the 10 largest banking and insurance groups based on income reported to the ATO in FY2021-22, with a first instalment expected to be paid within 30 days of receiving an invoice. A second instalment will ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... determination TD 2023/D4 Income tax: deductions for financial advice fees paid by individuals who are not carrying on a business. The ATO proposed adding the deductibility of financial advice fees as tax-related expenses under section 25-5 of the Income ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... through their SMSF was regrettable," he said. ASIC and the Australian Taxation Office jointly regulate the SMSF sector; the ATO has the role of auditing SMSF auditors. Financial adviser misconduct in the SMSF space is rife. One example is former adviser ...

SMSF Association blasts 'highly questionable' ASFA research

ANDREW MCKEAN  |  MONDAY, 11 DEC 2023
... Association has ripped apart the Association of Superannuation Funds of Australia's (ASFA) assertion, which is based on ATO sample data, that less than 1% of SMSFs with balances over $3 million have farm-related income. The government has proposed ...
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