Information for advice professionals only.
Recently the ATO released new guidance highlighting the promotion of schemes that encourage the establishment of a SMSF for the purposes of accessing members funds before the members have met a superannuation condition of release, or an illegal early release scheme. The guidance and website offers practical tips for people to make sure they don’t unwillingly break the law. In this podcast we will discuss the guidance, possible scenarios and consequences.
You can also access this podcast via Soundcloud.
Things you should know: This commentary has been prepared by Westpac Financial Services Limited for use by advisers and must not be made available to any client. The commentary provides an overview only and should not be considered a comprehensive statement on any matter or relied upon as such. Projections given are predicative in character and whilst every effort has been taken to ensure that the assumptions on which the projections are based are reasonable, the projections may be based on incorrect assumptions or may not take into account known or unknown risks and uncertainties. The results ultimately achieved may differ materially from these projections. This commentary may also contain material provided by third parties derived from sources believed to be accurate at its issue date. While such material is published with necessary permission, Westpac Financial Services Limited does not accept any responsibility for the accuracy or completeness of, or endorses any such material.