Blog

Can you access your super fund for medical procedures? Editor: The following relates to a newspaper article that appeared recently in a national newspaper and was then subsequently picked up by national TV and radio. As it concerns a taxpayer…

The 2015 income year has seen some substantial increases in the contributions cap amounts. – the annual non-concessional contributions cap has increased to $180,000 (up from $150,000 in the prior year) and this means the cap is $540,000 for those…

GIC and SIC rates for the 2014 December quarter The ATO has published the 2014 December quarter rates for the General Interest Charge (GIC) and the Shortfall Interest Charge (SIC) as follows: GIC annual rate 9.63% GIC daily rate 0.02638356%…

Lost super climbs to $14 billion New statistics released by the ATO reveal that more than $14 billion in lost super is waiting to be claimed. “There’s over $6 billion of super, sitting in accounts where funds have not been…

Project DO IT – the ATO’s amnesty for offshore tax avoiders The ATO has advised that over 100 disclosures have already been received, with total additional income disclosed of over $12 million. The ATO has also received almost 200 expressions…

ATO launches voice authentication The ATO says that they need to ask the caller to verify their identity in about 75% of the 8 million calls it receives each year. Australians contacting the ATO by phone will now be given…