Category: Australian Taxation Office (ATO)

I received an ATO letter re: SMSF investment strategy and diversification – what do I need to do?

I received an ATO letter re: SMSF investment strategy and diversification – what do I need to do?

You may be aware that the Australian Tax Office (ATO) has issued letters to nearly 18,000 SMSF trustees as part of a campaign to ensure trustees are aware of their…

Can my SMSF pay for my personal ATO Division 293 tax and Excess Concessional Contributions Assessments?

Can my SMSF pay for my personal ATO Division 293 tax and Excess Concessional Contributions Assessments?

Yes – however care needs to be taken to ensure you pay it at the right time by following the below steps. Division 293 Tax The Division 293 Tax applies…

When did you last review your SMSF’s investment strategy?

When did you last review your SMSF’s investment strategy?

You may be aware that the Australian Tax Office (ATO) has issued letters to nearly 18,000 SMSF trustees as part of a campaign to ensure trustees are aware of their…

Transfer Balance Account Reporting  (“TBAR”) – why real time reporting is key

Transfer Balance Account Reporting (“TBAR”) – why real time reporting is key

With the first quarter of the TBAR reporting having come and gone last month, here is a reminder of what these new reporting requirements entail and why real time reporting…