ATO claws back $850m in unpaid SG in FY 17-18
Compliance activities undertaken by the ATO in the 2017-18 financial year saw the ATO raise around $850 million in unpaid super entitlements.
Categories for Financial Planning News
‘Hefty penalties’ with TRIS payment failures, SMSFs warned
With clients who fail to pay the minimum pension payments for TRISs potentially up for illegal early release and significant penalties, SMSF practitioners have been urged to pay close attention in this area.
The global financial crisis: Behind us but far from over
Ten years ago this month, Lehman Brothers, the fourth-largest US investment bank, filed for bankruptcy protection.
‘Huge’ professional risk in SG delays, big four firm warns
With single touch payroll making it easier for the ATO to identify unpaid SG, telling clients to wait for the SG amnesty could be a risky move impacting their professional obligations, warns a big four accounting firm.
What a financial adviser can add to your portfolio’s returns.
A 16 year study by Vanguard (latest report from July 2018) has found that... View Article
ATO updates crypto guidance
The ATO has updated its guidelines on the tax treatment of cryptocurrencies, including issues on exchanging one cryptocurrency for another and record-keeping requirements.
Reverse mortgages: Short-term gain, long-term pain
Residential property has long been a major store of wealth for average Australians.
ATO set sights on 27,000 funds in ongoing crackdown
While efforts by tax agents and the ATO has seen a dramatic drop in the number of non-lodgers, 27,000 registered SMSFs that have not lodged since their establishment remain on its radar.
ATO zones in on hundreds of newly created reserves
ATO deputy commissioner James O’Halloran
A dynamic approach to retiree spending and drawdowns
Here's a critical question for retirees and those nearing retirement: How much are you intending to drawdown and spend each year from your retirement savings?
