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READ MORETax office warns of self-managed super fund crackdown
Wealthy retirees using their superannuation to conceal funds from the tax office are under fire after a spike in what are known as “reserves” across the self-managed super fund sector.
After new rules came into force in July last year which introduced a range of “caps” on both pension contributions and tax free pension income, the ATO openly warned that investors using the “reserves” system to avoid new super “caps” could face trouble.
Read the full article at The Australian.
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