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The Australian Taxation Office (Tax Office) and the Australian Securities and Investments Commission (ASIC) in a joint media release issued on 19 July 2007 warned about illegal schemes offering people early access to their superannuation funds. It was stressed that early access to superannuation is only granted in exceptional circumstances and in strict accordance with the law. This warning was issued in response to a significant increase in the number of these illegal schemes operating in the Sydney metropolitan area.

For a copy of the ATO's Media release 2007/35, 19 July 2007, go here

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