compliance

ATO ramping up its “e-Audit” option

  The ATO has recently published information on its use of “e-Audit” technology, which it has begun to use as part of its tax compliance push. An e-Audit is carried out via technology that tests files stored in a taxpayer’s electronic records, which can verify if the stored data is accurate and complete. If a

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Your practice and the Notifiable Data Breaches scheme

The Tax Practitioners Board (TPB) holds regular consultative forums, which are attended by Registered Tax Agent Associations such as Tax & Super Australia as well as other various stakeholders. At its latest meeting, the TPB observed that the mandatory Notifiable Data Breaches (NDB) scheme commenced on 22 February 2018 (we reported this in early February).

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Events based reporting: What does it mean for SMSF trustees?

The first signs of disquiet in the SMSF sector started not too far into the current income year when confirmation signs started to emerge that the ATO, for the purpose of the then recently introduced transfer balance cap, would soon require SMSF trustees to report certain events on a real-time basis. It is understood that

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ATO answers practitioners’ questions

Tax technical representatives of Tax & Super Australia recently attended an ATO open forum. The ATO stages these forums at locations around the country, and says the intent of these forums is to: hear directly from tax practitioners about matters affecting them, their practice and the broader tax professional community provide an opportunity to raise

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SMSFs: More ‘real-time’ reporting will be required soon

Along with the new transfer balance cap that is being introduced from July 1 this year, the ATO has indicated that more “events-based” reporting will be required for it to adequately deal with the evolving SMSF regime. Indications that this was a direction that SMSF trustees may be expected to take arose from the newly

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