Tax Institute calls for delay to enforcement of NALE rules
Sarah Kendell
The Tax Institute has called for enforcement of changes to non-arm’s length expense (NALE) rules to be delayed until 1 July 2020, suggesti
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Federal Court orders release of documents around bankrupt trustees’ assets
The Federal Court has made discovery orders around assets that two bankrupt SMSF trustees claim were held within their self-managed fund, af
Government called to improve Treasury, tax profession relations
The government has been called to go beyond its commitment to improving the relationship between the ATO and tax practitioners, and ensure t
ASIC commences civil proceedings against SMSF scheme operator
The corporate regulator has commenced civil proceedings against the alleged operators of a fraudulent SMSF scheme.
Sarah Kendell
When can you access the age pension — if at all?
Does paying taxes while you’re working give you the right to expect you will receive an age pension when you decide that you no longer wan
End of year tax scams set to spike as ATO issues warning
With over $2.1 million paid to scammers impersonating the ATO this year, the Tax Office is warning of yet another spike as tax payments dead
BGL adds accounting work papers to Simple Fund 360
SMSF software provider BGL has made a number of enhancements to its Simple Fund 360 software platform, including the addition of accounting
Family home not off the table in retirement review
A panellist on the government’s review of the retirement income system has confirmed that the family home will be included in the scope of
New degrees to be added to FASEA-approved course list
The Financial Adviser Standards and Ethics Authority has proposed the addition of new bachelor degrees, graduate diplomas and bridging cours
Catch-up contributions can release assets from defined benefit pensions
New catch-up contribution rules can be used to assist clients with large amounts of assets locked in to defined benefit pensions, according
FSC calls for TPB adviser monitoring to be scrapped
The Financial Services Council has recommended that the TPB compliance scheme for tax financial advisers be rolled into existing adviser reg
Structuring key to business purchase using LRBA
While the process has become more complex, SMSF trustees are still able to structure the use of an LRBA to purchase a business real property
SG amnesty clears lower house, ATO urges employers not to wait
A bill proposing to grant a one-off superannuation guarantee amnesty has now been passed by the House of Representatives, as the ATO urges e
ATO to roll out myGovID to SMSF auditors
The ATO will look to include SMSF auditors in its myGovID rollout late next year as the ability for real-time reporting in the SMSF sector b
Sarah Kendell
NALI — is the ATO’s net too wide?
Recently, the ATO released draft Law Companion Ruling 2019/D3 (LCR) on the newly passed non-arm’s length income (NALI) amendments to s 29
Navigate limited licensing exemptions with caution
Accountants need to use caution when navigating exemptions in the limited licensing system, as even innocent comments made during conversati
FASEA CEO defends code of ethics amid scrutiny
Financial Adviser Standards and Ethics Authority chief executive Stephen Glenfield has come out in defence of its code of ethics amid concer
SMSF Adviser Editor’s Choice Awards 2019 winners revealed
SMSF Adviser is pleased to announce the winners of its state-based Editor’s Choice Awards for individuals and companies that have provided
Retirement review leaves door open to pension tweaks
Treasury’s Retirement Income Review consultation paper has laid the groundwork for a potential redesign of the age pension, revealing a ra
Commissioner acts on deceased estates dilemma
The commissioner will exercise his rarely used remedial powers to allow tax agents access to deceased clients’ tax data, but practitioners
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