National Awareness Campaign - Taxpayers Beware

Are you a taxpayer?

The Tax Office has commenced a national awareness program that is aimed at assisting taxpayers protect themselves against promoters who market 'dodgy tax schemes'.Under the program the Tax Office aims to inform taxpayers about investigating the tax planning and avoidance schemes and how to recognise and report these types of schemes.

 According to the Tax Office, taxpayers should do the following before committing themselves to an investment or tax scheme:

a. Check the promoters' license details at http://www.fido.gov.au;

b. Contact ASIC if they haven't received a product disclosure statement or prospectus;

c. Get independent financial advice from a recognised professional;

d. Check Tax Office rulings on the ATO website, and;

e. Contact the Tax Office about dodgy tax schemes.

 Details regarding the awareness program can be found online and consist of two brochures:

a. For "Tax Planning - investigate before investing" click here,

b. For "Recognising and reporting tax avoidance schemes" click here.

 For more information you can visit the Tax Office website at http://www.ato.gov.au

Remember: - You should seek professional advice prior to investing in tax schemes.