ATO warning about NFP tax avoidance schemes

by

Ed.

From www.accountantsdaily.com.au: The ATO has issued a warning about a rising trend of tax schemes that exploit not-for-profit structures to avoid taxes.

These unlawful activities involve individuals creating false foundations claiming NFP status to funnel income without tax obligations, undermining public trust in legitimate NFPs.

The ATO encourages individuals and tax agents to report these schemes and warns that participants face severe penalties.

Filed under: Not For Profits, Tax - General

Leave a Comment