ATO urges second opinion on tax schemes

The ATO’s long-standing advice on tax schemes, “if it’s too good to be true, it probably is”, has been given a makeover in line with its process of reinventing itself.

“If it’s too good to be true, get a second opinion” embraces their new approach where they are harnessing the experience and the reputation of tax professionals to get the message cut-through it needs.

“The guile and salesmanship of those now marketing sophisticated tax avoidance schemes means slogans aren’t enough”, says ATO Deputy Commissioner, Tim Dyce.

“So we’re telling people not to take our word for it, talk to those in-the-know.

“Who better than the person you trust to ensure you’re meeting your tax and super obligations.”

Tim says the ‘Second Opinion’ campaign is supported by a range of online products at ato.gov.au/secondopinion, which help strip away the veneer of respectability that can make the scams appear to be sound investments.

“Our ‘Get a second opinion‘ video gives an insight into how people get caught up in a well marketed scheme.

“On the same page there’s links to advice and information from doing a background check on a scheme, how to recognise one that’s dodgy, how to get out of one if you’re involved and how to report schemes and those promoting them.

“And I’d urge you to watch the online ‘Recognising tax avoidance schemes’ presented by finance expert Paul Clitheroe who knows a thing or two about investing wisely.”

For more information, go to ato.gov.au/taxplanning or phone 1800 177 006.

Image of ATO spokesperson Tim Dyce