ATO about face on DIY super

The Australian Taxation Office gave the DIY superannuation sector a pleasant surprise yesterday when it removed a threat to declare re-contribution strategies tax avoidance. The ATO said it would allow the strategy as long as there's genuine withdrawal of benefits from funds and no contrived arrangements. There have been regular warnings from the ATO recently that super re-contribution largely appeared to be a breach of the Part IV A general anti-avoidance provisions of the tax act.

Previous News Rates on hold for August