☮ ♥ ♬ 🧑💻<p>Day 31 cont 💰 😳😱 🎩👨⚖️🧑⚖️🏛️</p><p>“Family trust blitz threatens ‘financial ruin’ as <a href="https://ioc.exchange/tags/ATO" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ATO</span></a> goes back decades: </p><p><a href="https://ioc.exchange/tags/Wealthy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Wealthy</span></a> families are being hit with huge bills for <a href="https://ioc.exchange/tags/unpaid" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>unpaid</span></a> <a href="https://ioc.exchange/tags/taxes" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>taxes</span></a> and <a href="https://ioc.exchange/tags/penalties" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>penalties</span></a> as the Australian Taxation Office uses sweeping <a href="https://ioc.exchange/tags/powers" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>powers</span></a> to <a href="https://ioc.exchange/tags/investigate" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>investigate</span></a> taxes on family trust distributions dating back more than 30 years. …</p><p>The crackdown is associated with what are known as <a href="https://ioc.exchange/tags/FamilyTrust" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FamilyTrust</span></a> elections and the payment of family trust distributions tax dating back to 1998, when the tax was first introduced to combat <a href="https://ioc.exchange/tags/TaxAvoidance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TaxAvoidance</span></a> schemes.”</p><p>I cannot believe 🥔🤓 hasn’t mentioned and weaponised this ATO action. A tax policy might have uncovered this? </p><p><a href="https://ioc.exchange/tags/AusPol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AusPol</span></a> / <a href="https://ioc.exchange/tags/taxation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>taxation</span></a> / <a href="https://ioc.exchange/tags/elections" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>elections</span></a> <<a href="https://archive.md/c6l94" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="">archive.md/c6l94</span><span class="invisible"></span></a>> / <<a href="https://www.afr.com/policy/tax-and-super/family-trust-blitz-threatens-financial-ruin-as-ato-goes-back-decades-20250429-p5lv2p" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">afr.com/policy/tax-and-super/f</span><span class="invisible">amily-trust-blitz-threatens-financial-ruin-as-ato-goes-back-decades-20250429-p5lv2p</span></a>></p>