Tag Archives: ATO

Auditors face new range of standards for Self-Managed Superannuation Funds

The Superannuation Laws Amendment (Capital Gains Tax Relief and other Efficiency Measures) Bill 2012 was passed yesterday, as well as new requirements that Self-Managed Superannuation Fund (SMSF) auditors will now be subject to a range of standards concerning their qualifications, … Continue reading

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Masterclass SMSF – Transition to Retirement – The Steps and some Benefits

Transition to Retirement – The Steps and some Benefits We explained about Transition to Retirement (TTR or TRIS – Transition to Retirement Income Stream) in our earlier post HERE, and today we look at some of steps to set up … Continue reading

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STRATEGY – Salary Sacrifice and How it Works

  While there is a sacrifice or reduction in take home salary, the important part of salary sacrifice is the saving for retirement and the added bonus of a lower-taxed environment. The tax is 15%, where-as tax on income over … Continue reading

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ATO – Compliance Programme Focus Attention on Largest SMSFs

The Australian Taxation Office (ATO) will be turning its attention, for the first time, to the activities of the largest Self-Managed Superannuation Funds (SMSFs) as part of the regulator’s compliance program for the 2013 financial year. Click Here for MORE … Continue reading

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False or Misleading Statements Which Do Not Result in a Shortfall Amount – New ATO Practice Statement PS LA 2012/4

The ATO has recently published Practice Statement PS LA 2012/4, which details how they will administer the false or misleading no-shortfall penalty. They tell us that trustees who make a false or misleading statement after 4 June 2010 may be liable for penalties, even … Continue reading

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ATO sets its sights on SMSFs

  The Australian Taxation Office (ATO) has unveiled a new program for the 2012-13 financial year that will put the spotlight firmly on Self-Managed Superannuation Funds (SMSFs).  According to the ATO’s Compliance Program 2012-13, the Tax Office will look at … Continue reading

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How Dividend Franking Credits REDUCE Tax Paid by My Self-Managed Super Fund

Companies pay tax at the rate of 30 per cent, while super funds pay just 15 per cent (10 per cent on capital gains). This 30 per cent tax if fully paid, becomes a tax credit attached to a fully … Continue reading

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