Exclusive
ATO to crack down on self-managed super scams
Michael ReadEconomics correspondent
The Tax Office is warning self-managed superannuation funds of a major crackdown over reporting breaches and targeting people who set up a fund to illegally withdraw their retirement savings, as the agency beefs up its compliance of the $860 billion sector.
Assistant commissioner Justin Micale told AFR Weekend that “illegal early release” was the biggest area of concern for the SMSF enforcement team.
Loading...
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Tax & super
Fetching latest articles