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Showing 1 - 10 of 16 results for "Income Tax Assessment Act 1997"

FAAA calls on ATO to provide clarity over advice fees

ELIZA BAVIN  |  THURSDAY, 14 MAR 2024
The Financial Advice Association Australia (FAAA) has called on the Australian Taxation Office (ATO) to build upon the progress it made in its public release of revised tax deductibility guidance in December 2023. The FAAA said the ATO should further ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
The Financial Advice Association of Australia (FAAA) expressed concerns about Treasury's proposal to abolish fee consent forms and Fee Disclosure Statements (FDS) in its response to the first round of reforms. Currently, advisers must produce an annual ...

Consultation opens on NALI reforms

ANDREW MCKEAN  |  TUESDAY, 20 JUN 2023
The government has proposed several changes to the non-arm's length income (NALI) regulations, which are set to affect self-managed superannuation funds (SMSFs) and small APRA-regulated funds (SAF). The Treasury Laws Amendment (Measures for Consultation) ...

Another round of consultation for veteran super taxation

JAMIE WILLIAMSON  |  TUESDAY, 9 MAY 2023
The government has commenced consultation on new draft regulations related to the Douglas decision, adding to the regulations introduced to parliament late last year. In November 2022, the government introduced legislation aimed at ensuring no veteran ...

The case for tax deductible advice

JAMIE WILLIAMSON  |  MONDAY, 3 JUN 2019
A growing community of like-minded financial advisers is adding its voice to calls for advice to be deemed tax deductible, as advice businesses grapple with the pressures of increased education standards and the Royal Commission. XY Adviser, along with ...

SMSF members want overseas restrictions lifted

DARREN SNYDER  |  TUESDAY, 16 JAN 2018
Australians temporarily living overseas are compelled to switch their self-managed superannuation to an APRA-regulated fund and this becomes a costly and cumbersome exercise. The SMSF Association is calling on the Federal Government to lift these restrictions. ...

FPA pushes tax deductible incentives

KARREN VERGARA  |  TUESDAY, 28 MAR 2017
The Financial Planning Association of Australia is advocating for tax deductions of management fees and costs associated with the initial preparation of a financial plan. In its pre-budget submission to the Federal Government, the FPA says ongoing management ...

American IRAs not super funds

DARREN SNYDER  |  MONDAY, 20 JUL 2015
A recent decision by the Australian Administrative Appeals Tribunal (AAT) ruled that an American Individual Retirement Account (IRA) is not a superannuation fund for Australian Tax Purposes. In the case of Baker and Commissioner of Taxation, tribunal ...

Treasury proposes tax relief for merging super funds

JAMES FERNYHOUGH  |  FRIDAY, 26 SEP 2014
The government finally looks set to provide capital gains taxation relief for merging super funds after years of pressure from the superannuation industry. This week Treasury has released a consultation paper recommending concrete amendments to the ...

Coalition pledges support for super laws amendments bill

JAMES FERNYHOUGH  |  FRIDAY, 21 JUN 2013
The Coalition has said it will support the federal government's Superannuation Laws Amendment Bill, granting tax relief to superannuation funds which do not acquire a MySuper licence. Under MySuper regulations, funds which do not offer a MySuper product ...
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