ATO and AHPRA Collaborate to Prevent Superannuation Fund Abuse
The Australian Taxation Office (ATO) and the Australian Health Practitioner Regulation Agency (AHPRA) have issued new guidance to warn health practitioners against encouraging patients to unnecessarily access their superannuation funds.
This joint effort aims to stop health practitioners from devising complex methods to persuade patients to request access to superannuation for medical treatments.
- The ATO and AHPRA have noticed a significant increase in requests for the compassionate release of superannuation over the past two years, with numbers doubling.
- This development follows a series of questions asked by Australian Greens Senator Nick McKim during Senate estimates about using superannuation funds for dental treatment.
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Author's summary: ATO and AHPRA join forces to stop superannuation abuse.