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Showing 1 - 10 of 50 results for "ATO data"

Government bolsters funding for payday super reforms

ANDREW MCKEAN | THURSDAY, 19 DEC 2024

... entitlements at the same time as wages. Advocacy groups say this reform would drastically curb unpaid super. According to ATO data, there were more than 500,000 cases of underpayment and over 200,000 cases of non-payment of super in the 2021-22 financial ...

Growth of SMSFs, Div 296 opportunity for advisers

MATTHEW WAI | WEDNESDAY, 18 SEP 2024

... 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.

ATO flags key focus areas this tax time

ELIZA BAVIN | MONDAY, 6 MAY 2024

... if you're not eligible or you don't keep the right records." Rental properties continue to remain in the ATO's sights. ATO data found nine out of 10 rental property owners were getting their income tax returns wrong. "We often see landlords making mistakes ...

SMC finds $38k nest egg boost for working mums

KARREN VERGARA | MONDAY, 12 FEB 2024

... 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 the super ...

Farmers distressed by superannuation tax overhaul

ANDREW MCKEAN | THURSDAY, 5 OCT 2023

... assets in the future. The government claims the reforms will impact just 0.5% of superannuation account holders; however, ATO data suggests non-indexation might result in approximately 500,000 Australians exceeding the cap in their lifetime. "The proposed ...

Young Aussies flock to SMSFs

KARREN VERGARA | THURSDAY, 14 SEP 2023

... fund establishments in the 2023 financial year. Baby Boomers, aged 57 to 71, account for 21.3% of establishments. Citing ATO data, the median age of members for all newly established funds was 46 years old in FY21, which has reduced from 54.1 years old ...

NowInfinity bolsters estate planning capabilities

CASSANDRA BALDINI | TUESDAY, 12 SEP 2023

... them to easily keep their SMSF deeds and investment strategies up to date and compliant." NowInfinity flagged recent ATO data that shows28% of all SMSFs are established on its platform.

High super balance tax needs work: Podcast

CASSANDRA BALDINI | THURSDAY, 11 MAY 2023

... problematic." Hutton isn't the only one who shares this view. Earlier in the year Financial Services Council (FSC) analysis of ATO data found a significant portion of Australian taxpayers will breach the cap in their lifetime. It found some 500,000 individuals ...

Labor cracks down on unpaid super

ANDREW MCKEAN | TUESDAY, 9 MAY 2023

... But, the non-indexation of the $3 million superannuation cap could eventually impact around 500,000 people, according to ATO data.

Curbing super tax breaks for the wealthy: Consultation opens

ANDREW MCKEAN | MONDAY, 3 APR 2023

... significant number of Australians breaching the $3 million cap in their lifetime, affecting around 500,000 people, as per ATO data. Further, Rainmaker Information research indicates that the $3 million superannuation cap would affect approximately $410 ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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