Audits at arms length: DIY funds get a breather from ATO scrutiny

Article Abstract:

Members of DIY superannuation funds will be saved from increased costs, and there will be a much reduced risk of being penalized for minor, unintentional regulatory breaches, after the Australian Tax Office (ATO) softens its policy on fund auditing. The ATO has backed down on banning accountants from auditing a fund if they also provide other accountancy services such as the preparation of financial accounts and tax returns.

Forecasts, trends, outlooks, Forecasts and trends, Market trend/market analysis, Powers and duties, Tax returns, Australia. Australian Taxation Office

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Dare to deem

Article Abstract:

The deeming system allows additional earning without losing pension and it provides the option of accessibility to many high-interest, reduced-fee bank accounts specifically for retirees. The article provides additional information on the deeming system and also features two tables listing the comparison of pensioneer deeming account rates and fee schedules.

Finance, Pensions, Bank accounts

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Super snoopers

Article Abstract:

Australia's $650 billion superfunds industry is marketing superfunds to attract Australia's workers as the superannuation choice rules begin from July 1, 2005. Due to the superannuation choice rules, nearly 5 million employees will get the right to direct their employer's future superannuation guarantee contributions to virtually any fund they like.

Marketing procedures, Direct Property and Casualty Insurance Carriers, Fire, marine, and casualty insurance, Workmen's Compensation Insurance, Marketing, Company marketing practices, Workers' compensation

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