The Australian Taxation Office (ATO) has issued a cautionary statement regarding misleading information circulating online, particularly claims suggesting that the age for accessing superannuation would rise to 70. In reality, the age at which Australians can access their superannuation remains fixed at 60 and is not set to change next month, as confirmed by the ATO.
These inaccurate assertions were prompted by certain outlets alleging that the re-elected Labor government intended to amend the superannuation preservation age rules, increasing it by a decade. Emma Rosenzweig, ATO Deputy Commissioner, labelled these assertions as “classic fake news,” urging the public to verify the authenticity of information from reliable sources such as the ATO’s official website, their superannuation fund, registered tax agents, or licensed financial advisers.
Rosenzweig advised caution regarding websites that may attempt to collect personal information, including Tax File Numbers (TFN), identity details, or myGov login credentials. Individuals are encouraged to think critically before acting on information sourced from unofficial websites or social media platforms.
Additionally, the ATO warned against offers of free expert tax advice from individuals or companies without proper credentials. Any person providing assistance with tax matters should be a practising lawyer or registered with the Tax Practitioners Board, ensuring they meet the necessary professional standards and regulations.
In summary, it is vital for Australians to remain vigilant and seek information from established and trustworthy sources when it comes to superannuation and taxation matters.