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 number of requests for compassionate release of superannuation has doubled over the past two years.
- A joint media release was issued by the ATO and AHPRA to address this issue.
The issue was recently highlighted during Senate estimates, where Australian Greens Senator Nick McKim asked questions about using superannuation funds for dental treatment.
Author's summary: ATO and AHPRA join forces to stop superannuation abuse.