Tax Planning
You have the right to arrange your financial affairs to keep your tax to a minimum – this is often referred to as tax planning, or tax-effective investing.
Tax planning is legitimate when you do it within the letter and the spirit of the law. However, some arrangements attract our attention to determine whether or not they are lawful.
Involvement in a tax avoidance scheme can risk your original investment. You might also have to pay back any missing tax – with interest – and penalties.
If you think you are involved in a scheme, we can help you. Taxpayers who tell us about their involvement before we start to investigate could be eligible for a reduction in penalties.
Source: ATO Website