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  • Too good to be true?

    Each year we see incidents where individuals and businesses become victims of dodgy tax schemes.

    Tax planning arrangements that go beyond what the law intended are tax avoidance schemes. They can put your client's savings at risk.

    To help protect your clients from risky tax schemes let them know to be wary of promoters who:

    • claim their product is zero-risk
    • discourage them from obtaining independent advice
    • do not have a product disclosure statement
    • recommend changing private expenses into business expenses so they can be claimed against income
    • inflate or artificially create deductions
    • suggest arrangements that involve deferring or not declaring income.

    You can report a suspected tax scheme to us anonymously by calling 1800 060 062 (between 8.30am and 5.00pm, Monday to Friday) or emailing reportataxscheme@ato.gov.au.

    If your client has become involved in a tax scheme, we can help. Ask them to report it to us. They may be eligible for reduced penalties.

    See also:

    Last modified: 12 Mar 2019QC 58205