Daily Archives: January 24, 2022

IGTO invites submission on its 3 investigation – ATO’s management of objections; exercise of its general powers of administration; and exercise of the Remedial Power

The Inspector General of Taxation is conducting 3 investigations and seeking submissions on the ATO’s (1) management of objections;  (2) exercise of its (unappealable) general powers of administration; and  (3) exercise of the Remedial Power. Submissions are due by 28 March and also 28 February 2022.   (1)  The ATO’s Management of Objections. The IGTO…

Actuaries’ suggestions to improve the ATO’s ‘MySuper’ comparison tool and extend it to ‘choice’ funds

On Friday 21. January 2022, the Institute of Actuaries of Australia released its submissions suggesting possible improvements to the ATO’s YourSuper Comparison Tool. The Institute said it supports the online Comparison Tool, but its key suggestions include: (i) splitting out investment and administration fees; (ii) initial ranking by net investment performance (not by fees); and…

Tax Institute’s ‘State of Tax Policy Report: December 2021’ (for Members Only)

THE TAX INSTITUTE posted its State of Policy Report: December 2021, on Friday 21.1.2022, noting – Keeping up to date with the latest developments in changing legislation can be a challenge at the best of times and may be especially hard if you’ve just returned from a well-deserved end of year break. Our State of Tax…