Your Money Matters – September 2016

September 2016

Pre-retirees: Avoid ‘too good to be true’ tax schemes

The ATO has launched a new project called ‘Super Scheme Smart’, an initiative aimed at educating individuals about the potential pitfalls of ‘retirement planning schemes’, to keep them safe from risking their retirement nest egg.
According to the ATO, individuals most at risk are those approaching retirement, including anyone aged 50 or over, looking to put significant amounts of money into retirement, particularly SMSF trustees, self-funded retirees, small business owners, company directors, and individuals involved in property investment.
While retirement planning schemes can vary, there are some common features that people should be aware of.

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