Super Scheme Smart

Each year we discover complex tax schemes and arrangements designed by promoters solely for the purpose of helping people avoid tax.

Currently we are seeing a number of schemes targeting Australians planning for their retirement. These schemes encourage individuals to channel money inappropriately through their self-managed super fund (SMSF).

We have launched Project Super Scheme Smart to educate taxpayers and their advisers about these types of schemes – so they know what to look out for.

The penalties are substantial for those involved in deliberate tax avoidance schemes. And the penalties aren't just financial; an individual may well lose their right to be a trustee of their own superannuation fund; or in some cases they could go to jail. Promoters of these schemes are also on our watch list.

How to recognise a scheme

These schemes have some common features, they:

  • are artificially contrived with complex structures usually connecting with an existing or newly created SMSF

  • involve a significant amount of paper shuffling

  • are designed to give the taxpayer minimal or zero tax, or even a tax refund

  • aim to give a present day tax benefit by adopting the arrangement

  • invariably sound ‘too good to be true’, and as such they generally are.

How to check if you’ve been caught up in a scheme

We are here to help. Through Super Scheme Smart, we're giving guidance to taxpayers and their advisers in wealth management and financial planning. You can also call us on 1800 060 062 or click on the links below to find out more.

  • Super Scheme Smart: Individuals

  • Super Scheme Smart: Intermediaries

And remember, if you’re planning for retirement – either for yourself or on behalf of a client – make sure you follow the Super Scheme Smart approach, and if in doubt, check it out.

Australian Government

Australian Taxation Office

Recent Posts

See All

ASIC Should Withdraw Its SMSF Factsheet

The Australian Securities and Investments Commission (ASIC) should withdraw its Self-Managed Superannuation Fund (SMSF) factsheet because it contains “an array of seemingly deliberate inaccuracies”, a

SMSFA Points To ASIC Fact Sheet Inconsistencies

The SMSF Association has criticised the corporate regulator’s focus on the risks of SMSFs in its mailout campaign targeting new trustees, saying the data sources used in its fact sheet are inconsisten