ATO

Related-party LRBAs: Deadline is less than a week away

SMSF trustees and their advisers have less than a week left to re-arrange their LRBAs if they want to utilise the safe harbour LRBA terms contained in PCG 2016/5. According to PCG 2016/5, the terms of the fund’s LRBAs will not be subject to any further compliance action by the ATO for the 2014-15 income

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ATO comments on the December 2016 system outage

Ramez Katf, chief information officer at the ATO, writes to tax practitioners in relation to the December 2016 ATO system outage. “I want to connect with you regarding our system outage at the end of last year and provide an explanation. I regret the impact the disruption of our services had on tax practitioners and our

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Data matching by ATO targets card payments, online sales, ride sourcing

Every year, the ATO collects new data from financial institutions and matches this data with its own information, which is sourced from income tax returns, activity statements and other tax records. Data matching ATO targets card payments, online sales, ride sourcing It says that its current data matching activities are focused on gathering data on:

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Overview of superannuation system changes for SMSFs

The changes to the super system, announced by the government in the 2016–17 federal budget, have now been passed by Parliament. Overview of superannuation system changes for SMSFs. As reflected in the name of the legislation, the Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016, these changes were designed to improve the sustainability and

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