All Articles tagged with 'ATO'

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Legal protection for SMSFs

From Australian Taxation Office

Self-managed super fund (SMSF) trustees have fewer avenues of recourse against fraud and theft compared with trustees of the Australian Prudential Regulation Authority (APRA) regulated super funds. Prudential supervision APRA-regulated

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01 Aug 2012

SPAA highlights SMSF tax deduction error

From SMSF Association

The SMSF Professionals’ Association of Australia (SPAA) believes many SMSFs may be under-claiming valuable tax deductions. SPAA Technical Director Peter Burgess says discussions with industry players following the recent release

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26 Jul 2012

SPAA wants ATO to clarify super income streams

From SPAA - Self Managed Superannuation Funds Professionals Association

The Australian Tax Office needs to clarify the tax issues on when a superannuation income stream starts and ends, says the SMSF Professionals’ Association of Australia (SPAA). Graeme Colley, SPAA

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10 Jul 2012

ATO warns of sophisticated structured financial products

From Australian Taxation Office

The Australian Tax Office today released a taxpayer alert warning people to be cautious about sophisticated structured financial products that claim to offer franking credits and other tax benefits. “These

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15 Jun 2012

ATO prosecutes 1,500 for tax & superannuation offences

From Australian Taxation Office

The Australian Taxation Office’s (ATO) prosecution of more than 1,500 people for tax and superannuation offences sends a clear warning to tax cheats that they can expect to be caught.

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21 May 2012

Automatic consolidation of low-balance accounts

From Australian Taxation Office

From January 2014, the ATO will help super funds to auto-consolidate accounts with low balances by providing details of these accounts to members’ active funds. The information will be provided

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04 May 2012

Draft SMSF Ruling – limited recourse borrowing arrangements

From Australian Taxation Office

The ATO has recently issued draft SMSF Ruling SMSFR 2011/D1 – Self Managed Superannuation Funds: limited recourse borrowing arrangements – application of key concepts. This draft ruling explains important concepts

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30 Nov 2011

478 Prosecutions: do the crime, face the consequences says ATO

From Australian Taxation Office

Acting Tax Commissioner Jennie Granger today reminded the community that the ATO is continuing its focus on those who do the wrong thing. “Those who are caught face extremely serious

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29 Nov 2011

ATO addressing cash economy

From Australian Taxation Office

One way that the ATO addresses the cash economy is through writing to taxpayers and – where identified in ATO systems – their associated tax agent representatives. In 2011-12, the ATO is sending letters

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14 Nov 2011

Self managed super funds and lending

From Australian Taxation Office

Have your clients with SMSFs loaned money from their fund? If so, remind them to make sure that the loan terms comply with the law and are in the best

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02 Sep 2011

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