• ATO crack down on illegal SMSF tax schemes

    ATO crack down on illegal SMSF tax schemes 

    The ATO has encouraged self-managed retirees to expose dodgy SMSF practitioners that are pushing illegal tax schemes and giving the industry a poor reputation. After identifying a significant number of retirement planning schemes that were created purely to help people avoid tax as opposed to providing retirement benefits, the ATO is looking to close down the schemes with the help of SMSF retirees.

    The Deputy Commissioner Michael Cranston has joined forces with trustees who have fallen victim in the rogue schemes in an effort to work together to shut down dodgy schemes and put an end to schemes that pose a risk for retirees and their retirement savings.

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