Income splitting? You are now on the ATO's radar

Here’s how best to navigate the tax office's impending crackdown

The ATO has recently published a revised draft of its compliance guidelines to help practices self-assess the ‘level of compliance risk’ involved with their income-splitting arrangements.

The guidelines will apply to all professional services firm arrangements from 1 July.

This includes medical professionals who carry out any income-splitting activities within their business structures via trusts, companies or partnerships.

As such, you should assume that these rules will apply to you if less than 100% of your