The ATO and the Australian Health Practitioner Regulation Agency are concerned that some health practitioners and third-party facilitators are using predatory practices to get individuals to inappropriately access their super.

Red flags include practitioners or third parties advertising early access to super for cosmetic or dental procedures on social media, or asking for myGov sign-in details so they can ‘apply for you’.

Other common red flags include:

  • practitioners conducting telehealth appointments, rather than in-person examinations for ‘compassionate release of super’;
  • recommending more expensive treatments when cheaper options may be available;
  • encouraging the use of super to pay for treatment, rather than other payment options, such as a payment plan;
  • requiring the use of a specific provider to prepare the second ‘compassionate release of super’ medical report, or a specific third party to submit the application;
  • requiring upfront payment for treatments and withholding information about the ongoing costs of the treatment; and
  • charging fees to assist with preparing or submitting a ‘compassionate release of super’ application without being a tax agent.

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking or click here.

With four offices across Western Australia and over 20 years of experience, Acclaim Accounting is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice.

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