Aggressive approaches to work test may attract ATO scrutiny
With the ATO to start administering the work test from 1 July, SMSFs with unusual types of arrangements may need to ensure they have solid evidence of gainful employment, CFS has cautioned.
In a recent podcast, Colonial First State senior technical services manager Linda Bruce explained that with the work test being moved out of the SIS regulations and into the Tax Act, this means from 1 July the ATO will now be the regulator responsible for administering the work test.
Read more at SMSF Adviser
