Tax Schemes

The ATO have issued a warning to all taxpayers regarding so-called tax minimisation schemes which tend to proliferate at this time of year. Before investing in any such schemes taxpayers should ensure that the scheme has a current ATO product ruling and that it is a sound investment in its own right.

Any potential tax benefits should be viewed as an added bonus and not as the primary reason for investing.

Remember the old adage: “If it sounds too good to be true – it probably is!!”