Don’t Take The Bait On Tax Avoidance Schemes
The ATO has recently identified a number of tax avoidance schemes which it says are a risk to small businesses. These include:
- complex arrangements involving trusts to provide loans to individuals;
- abusive labour hire schemes;
- claims by companies for a deduction for unpaid directors fees; and
- avoidance of fringe benefits tax.
Not all tax avoidance schemes are obvious and many can look legitimate. Only on close examination do higher risk features start to appear. Please contact our office if you have any questions.
