Quantcast
au iconAU

 

 

Super funds in unlawful franking credit grab: ATO

The Tax Office has caught several large superannuation funds using complex financial arrangements to unlawfully bank $50 million in extra franking credits without taking on any real commercial risk.

Super funds in unlawful franking credit grab: ATO
smsfadviser logo
Super funds in unlawful franking credit grab: ATO

The behaviour has been flagged as an emerging risk by the Australian Tax Office, which published a taxpayer warning on Tuesday.

Read the full article on the Australian Financial Review.

Subscribe to Public Accountant

Receive the latest news, opinion and features directly to your inbox