ATO and AHPRA Collaborate to Prevent Abuse of Superannuation Funds
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. According to a joint media release, there has been 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 posed by Australian Greens Senator Nick McKim during Senate estimates last week, regarding the use of superannuation funds for dental treatment.
The ATO and AHPRA are working to end the practice of health practitioners devising complex methods to persuade patients to request access to superannuation for medical treatments.
- ATO and AHPRA issue new guidance on compassionate release of superannuation.
- Requests for compassionate release of superannuation have doubled over the past two years.
- Senator Nick McKim raised questions about using superannuation funds for dental treatment during Senate estimates.
Author's summary: ATO and AHPRA join forces to stop superannuation abuse.
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