Increased focus on SMSF compliance

Super

The Australian Tax Office (ATO) is taking a more serious approach to SMSF non-compliance over the coming year. The Tax Office has found that more than an acceptable number of SMSF trustees are lacking transparency and are operating of the system, i.e. not lodging SMSF annual tax returns and/or not undergoing an annual independent audit.…

ATO reminds small businesses about SuperStream deadline

Tax

The Australian Tax Office (ATO) is reminding small businesses to transition to SuperStream by 28 October 2016. SuperStream is the new mandatory way employers must make super contributions on behalf of their employees. It involves employers sending all super payments and employee information electronically in a standard format. Those employers that are still paying their…