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SMSF
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ATO clarifies COVID-19 rent relief concerns The Australian Taxation Office has responded to widespread concerns on whether SMSF landlords providing rent relief to tenants due to the financial impacts of the novel c...
Clarifying ‘arm’s length’ crucial in COVID-19 rent relief SMSFs should be able to provide rent relief provided it can be done on “arm’s length” commercial terms. However, the unprecedented nature of the COVID-19 outbreak ...
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ATO reveals auditor number misuse figures for 2017 and 2018 The Australian Taxation Office has released the results of its investigation conducted last year into the misuse of SMSF auditor numbers from 2017 and 2018. Write...
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ATO provides update on SAR lodgements The Tax Office has revealed a number of changes to its SMSF annual return (SAR) form for 2020 as well as warned trustees of the impending deadline for lodgement for the 2...
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Huge tax hit awaits trustees ignorant of NALE changes Trustees who are not across the wide-ranging implications of recent law changes to non-arm’s length income and expenses will face a big tax on any income and capital ga...
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ATO investment strategy guidance ‘unnecessary’: SUPERCentral The recent SMSF investment strategy guidelines provided by the Australian Taxation Office are “unnecessary” as they effectively tell trustees what they are already t...
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Simplification of CGT system could hurt SMSF trustees SMSF trustees who are small-business owners may have limited time to maximise their CGT concession contributions into super, with the government poised to overhaul the co...
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ATO flags most common SMSF return mistakes The Australian Taxation Office has revealed the top five most frequent errors made in the submission of SMSF annual returns as well as how advisers can avoid them when lo...
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New laws mean 65-year-olds should hold off on large contributions Following confirmation from the government that legislation to extend the work test exemption to age 67 will be passed by the end of the financial year, SMSF professional...
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ATO releases investment strategy guidance The ATO has released guidance for trustees around the formation of an investment strategy for SMSFs, confirming that specifying asset ranges of zero to 100 per cent withi...
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