The ATO are again conducting a national awareness program to help taxpayers protect themselves against promoters marketing dodgy tax schemes.

The ATO are concerned promoters may take advantage of the recent financial vulnerability of many taxpayers by increasing the marketing of high risk tax schemes such as mortgage management and early release of super schemes.

This year, the campaign combines on-line advertising with advertisements in a number of major newspapers and investment magazines. The ATO are also working in partnership with the community by alerting taxpayers through professional associations and tax intermediaries.

Making investment decisions - have you done your research?

Are you considering a tax-effective investment? It's important you have all the facts to make an informed decision.

Some investments offer tax benefits such as reducing assessable income or increasing deductions, but end up being outside the law. You can check with the ATO to ensure promised tax benefits will be available.

Find out as much as you can about an arrangement before investing. Make sure the arrangement has a prospectus or product disclosure statement and get independent advice about the promised tax benefits from a professional advisor. A person associated with the scheme is not independent.

Start by visiting www.ato.gov.au/investing and read the Investigate before investing fact sheet. It provides information about tax effective investing and how to detect potential tax avoidance schemes.

You can also check if the arrangement you're considering is covered by an ATO product ruling confirming the tax benefits, or if a Taxpayer alert has been issued warning about the arrangement.

Doing your research will help you avoid negative consequences including having to repay tax and incurring interest and penalties.

For further information, contact our office. These schemes and cost Taxpayers hundreds of thousands of dollars. Don't let it be you.