Business Services Industry
Tax reduction schemes are not super.
Australasian Business Intelligence, September, 2001
Sep 13, 2001 (Money Management
ABIX via COMTEX) -- The Australian Taxation Office (ATO) is conducting a purge of aggressive tax strategies. Advisers who promote the schemes should consider the business risk they run. A professional adviser should inform the client that the practice may be of dubious legality and that, if caught, there are possible penalties. A planner who receives a commission for recommending a tax-effective scheme may be penalised for each time they he or she has done so. Planners who have recommended agricultural or film industry tax-effective strategies have had their practice badly damaged when the schemes received the scrutiny of the ATO.
AUSTRALIAN TAXATION OFFICE
By Rob Keavney
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