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ATO to crack down on Baby Boomer wealth transfer ‘risks’

Michelle Bowes

The nation’s biggest private companies are at the centre of a crackdown designed to ensure the right amount of tax is paid as ageing patriarchs and matriarchs restructure their businesses as they pass billions onto their heirs.

The Australian Taxation Office has for the first time named succession planning and the associated “tax risks” as the number one focus for its private wealth division in 2025.

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Michelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com

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    Original URL: https://www.afr.com/wealth/personal-finance/ato-private-wealth-unit-to-crack-down-on-succession-risks-20250128-p5l7rw