“The minute something trips, it's, you know, they're called canary files because, you know, the little canary comes out and warns you.”
MP
Melanie Pedrone
Tell Me Everything | Logistics Freight Podcast ·
“The ATO can see… there’s a red flag… the ATO may well already know that your trust quite possibly has tripped that FTDT liability”
David Montani · Accountants Daily Podcast Network · Under the Hood: The restrictive family control test
Play from 19:06
19:06
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What was described
Warn that the ATO may already know a trust has tripped FTDT liability through data-matching, so relying on a “Richard Nixon” strategy of hoping it won’t be discovered is risky
Said nearby on the same subject
“The ATO maintains a database of trusts that have made family trust elections and also trusts in companies and so on that have made interposed elections”
DM
David Montani
Accountants Daily Podcast Network ·
“Australia relies on capital growth; everywhere else relies on cash flow… my strategy changed completely.”
TH
Todd Hunter
Australian Property Investor ·
“Just because you tell them… they don’t check with the ATO first… the ATO will reconcile and may issue a letter and extra tax to pay.”
MM
Mark McGrath
Retire Right ·
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