25 Jun 08 4 Taxpayer Alerts issued - TA 2008/13-16On 25 June 2008, the ATO issued the following Taxpayer Alerts:
- TA 2008/13 Employee Savings Plans
- TA 2008/14 Salary Deferral Arrangements
- TA 2008/15 Profit washing scheme using a trust and a loss entity
- TA 2008/16 Liquidation of entities to avoid the payment of tax liability
In a media release issued on 25 June 2008, the Commissioner, Michael D’Ascenzo, said people involved in or considering these schemes should be warned they face close examination by the ATO. “These schemes are variations on ones that have concerned us before and we are [also] considering whether the promoter penalty laws should be applied to people promoting them,” Mr D’Ascenzo said.
For a copy of the ATO media release, No 2008/33, 25 June 2008, go here