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Showing 1 - 10 of 364 results for "Australian Taxation Office"

Perpetual-KKR deal hits tax bill snag

KARREN VERGARA  |  TUESDAY, 10 DEC 2024
The Australian Taxation Office (ATO) is threatening to impose a massive tax bill on KKR's takeover of Perpetual's wealth management and corporate trust businesses, which has ballooned to more than $500 million. Perpetual said it has "strong ...

Total super assets hit $4tn milestone

ELIZA BAVIN  |  THURSDAY, 28 NOV 2024
... superannuation assets was due to the SMSF sector surpassing the $1 trillion mark. Fresh data from the Australian Taxation Office found total assets held in SMSFs hit $1.02 trillion. This was backed up in the APRA data, showing SMSF assets grew by 10.9% ...

SMSFs surpass $1tn milestone

MATTHEW WAI  |  WEDNESDAY, 27 NOV 2024
The latest statistics from the Australian Taxation Office (ATO) show the total assets held within self-managed superannuation funds (SMSFs) hit $1.02 trillion at September end. The total SMSF members grew to 1,173,867 in over 630,000 SMSFs, with over ...

ATO recovers $900m in unpaid super

JAMIE WILLIAMSON  |  WEDNESDAY, 20 NOV 2024
The Australian Taxation Office (ATO) recovered over $900 million in unpaid super owed to 800,000 employees in the past year. Latest compliance data from the ATO shows $932 million in previously unpaid superannuation reached the retirement accounts of ...

Fair Work ruling, ASIC put offshoring arrangements on notice

KARREN VERGARA  |  THURSDAY, 14 NOV 2024
... employer labour laws and so forth," she told Financial Standard. Cornelissen has seen instances of the Australian Taxation Office (ATO) pursuing businesses involved in offshoring on tax and superannuation issues. "This is the first one I've heard ...

HESTA red flags MinRes for governance failures

ANDREW MCKEAN  |  FRIDAY, 8 NOV 2024
... have engaged in widespread misconduct, including underreporting income from offshore entities to the Australian Taxation Office. Ellison will face board-imposed financial penalties totalling $8.8 million, along with the loss of up to nearly $10 million ...

ASIC crackdown: Action taken against 13 SMSF auditors

ELIZA BAVIN  |  WEDNESDAY, 2 OCT 2024
... SMSF auditors and cancelled the registration of one. All SMSF auditors were referred to ASIC by the Australian Taxation Office (ATO). Between 1 July 2023 and 30 June 2024, ASIC made 46 decisions in relation to the registration of approved SMSF auditors. ...

GESB adopts Protecting Your Super reforms

JAMIE WILLIAMSON  |  MONDAY, 30 SEP 2024
... for 16 months or more, unless notified otherwise, and transfer inactive low balance accounts to the Australian Taxation Office. As a result of the changes to insurance eligibility, GESB said it is reviewing its insurance offering and amending it to "align ...

ATO revises advice fee tax deductibility rules

JAMIE WILLIAMSON  |  THURSDAY, 26 SEP 2024
The Australian Taxation Office (ATO) has confirmed financial advice fees for tax-related guidance are deductible where the advice is provided by a Qualified Tax Relevant Provider (QTRP). Releasing a final guidance yesterday, the ATO said: "Fees for ...

Early release of super scammer sent to prison

KARREN VERGARA  |  TUESDAY, 24 SEP 2024
A Western Australian woman who illegally obtained $202,000 for herself and others via an early release of superannuation scam has been sentenced to three years' imprisonment. The unnamed High Wycombe woman was sentenced at the Perth District Court ...
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Editor's Choice

First Sentier expands mandate with Northern Trust

MATTHEW WAI  |   11:13AM
Northern Trust will offer a range of front-to-back solutions as third-party administrator for First Sentier Investors under an extended agreement.

Venture capital exits expected to grow in 2025: Preqin

ELIZA BAVIN  |   11:10AM
The venture capital market is expected to see even more exits in 2025 after the sector was impacted by higher interest rates throughout 2024.

FAAA slams 'underlying issues' in CSLR

ELIZA BAVIN  |   11:08AM
The FAAA has made a submission to the Senate Economics Committee calling out underlying issues brought to the fore by the establishment of the CSLR.

NRL legend joins private wealth firm

ANDREW MCKEAN  |   12:02PM
Ex-National Rugby League (NRL) player Cooper Cronk has joined Viola Private Wealth as an ambassador.

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