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SMSFs and succession planning In a recent speech, an ATO Deputy Commissioner emphasised how important it was for trustees of SMSFs to have a plan in place for the succession and control of the SMSF on the death or incapacity…

ATO warns property developers to declare income Editor:  The ATO has issued a media release warning property developers against using trusts to return the proceeds from property developments as capital gains instead of income. Deputy Commissioner Tim Dyce said, “A…

New ATO initiatives for small businesses Editor:  In a recent speech, the Commissioner of Taxation, Chris Jordan, announced some new initiatives for small business.  The following are excerpts from his speech. Red Tape The Commissioner stated that the ATO was…

ATO SMSF Supervisory Levy ATO Supervisory Levy has increased from $45 per year up until 2007 to now $259. In addition to the increase, the collection of the levy will also change from being in arrears to being collected in…

Small business online dispute resolution service The Minister for Small Business has announced that small businesses in a dispute are set to benefit from the launch of Dispute Support, a new online dispute resolution information and referral tool. “Small businesses have…

Accounts & Statements You can use the Accounts & Statements page to find and view specific transactions on your accounts. View, print and save statements. View accounts and Account Details.   Account List From the navigation toolbar click the Accounts & Statements tab.…