ATO stands for the Australian Taxation Office. The ATO monitors Superannuation Guarantee, regulates self-managed superannuation funds, and collects taxes.
The following articles refer to ATO and superannuation.
This article is a must-read if you make contributions to a super fund, in addition to your employer’s compulsory Superannuation Guarantee contributions.
Hundreds of thousands of Australians who are making a serious effort to save for retirement are expected to receive a financial shock after the financial year ends in [...]
Q: I have my own super fund and when it came to the end of the year I was supposed to withdraw $6,544. I only withdrew $6000 and can catch up this year. Is this a reportable breach to the Tax Office?
For the benefit of other SuperGuide readers, I’ll first explain [...]
Q: Before commencement of salary sacrifice, my financial adviser told me to ask my boss if he would agree to pay the 9% on the full salary because, legally the employer only needs to contribute the 9% on the income I receive after the salary sacrifice. In short, my gross salary [...]
If you have more than one super account then you are paying more than one set of fees on your retirement savings. By combining super accounts you can save tens of thousands of dollars in fees over your working life.
If you change jobs regularly or you have had part-time jobs while [...]
On 10 December 2009, the Government’s Super System Review released ‘A statistical summary of self-managed superannuation funds’. Although mainly based on data as at June 2008, the document provides interesting insights into what the ‘average’ SMSF is doing in terms of fund costs, asset allocation and investment performance.
SMSFs are cheaper [...]
Note: Every three months or so, we update this article with the latest data on self-managed superannuation funds issued by the Australian Taxation Office. This article contains the latest data available as at 10 December 2009. The most significant trend is that the typical new SMSF trustee is becoming younger. [...]
If you read the business section of the newspapers recently, or keep track of the financial news on the television, you may have heard about the push by a few industry groups within the superannuation sector to tighten the entry requirements for self-managed super funds (SMSFs) because of the incidence of [...]
When setting up your SMSF, you must sign a SMSF trustee declaration that confirms you understand the responsibilities and duties involved in running a SMSF.
Q: Can a SMSF buy/sell call/put options? I understand that CFDs are not permitted because it breaches the charge over asset regulation. However, is that true that options are derivatives and in giving shares as a collateral (when writing options) to the Options Clearing House, it will treated differently (an [...]
If you run your own super fund, the Australian Tax Office wants to hear your views on superannuation.
According to the latest ATO’s SMSF News Alert, the ATO has commissioned research company Colmar Brunton to collect “views of the community, employers and industry towards superannuation in Australia”.
The ATO states that SMSF trustees are a key group [...]
Individuals running DIY super funds now control 31% ($332.3 billion) of the $1.076 trillion invested via Australian superannuation funds. Ten years ago, DIY super funds represented one-tenth of all superannuation money.
The money held in DIY super funds, officially called self-managed super funds (SMSFs) exceeds the super money invested via retail [...]
Q: If I purchased a rental property in my SMSF for say $200,000 five years ago and the house is now valued at $300,000 in the SMSF what will be the capital base for the calculation of future capital gains tax (CGT) if I transfer the house out of the fund? [...]
Hi - I'm Trish Power and I am the author of Superannuation For Dummies and many other books on super and investing.And guess what! This site, SuperGuide, is the only INDEPENDENT website for consumers on superannuation in Australia. Read more
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