subscribe to our newsletter
Govt pledges millions to target super fraud

Govt pledges millions to target super fraud

Katarina Taurian
12 May 2015 — 1 minute read

The government has confirmed it will provide $127.6 million over four years to a taskforce for investigations and prosecutions that will address superannuation and investment fraud, identity crime and tax evasion.

The aim of the Serious Financial Crime taskforce is to maintain integrity and community confidence in Australian financial markets and regulatory systems, the government stated during the Budget release last night.

The taskforce agencies include the ATO, ASIC, Australian Crime Commission, Australian Federal Police, Attorney-General’s Department, Australian Transaction Reports and Analysis Centre, and Commonwealth Director of Public Prosecutions.


The measure is estimated to increase revenue by $419.7 million and expenses by $130.8 million with a net improvement to the budget of $288.9 million in fiscal terms over the forward estimates period.

The revenue includes an additional GST component of $3.2 million, which will be paid to the states and territories.

Govt pledges millions to target super fraud
smsfadviser logo
join the discussion

Are you currently covered by an AFSL to provide limited or full financial advice?


Get the latest news and opinions delivered to your inbox each morning

In this month's issue:

  • Time wrap
  • The tech bull run
  • From hobby to passion
  • Golden Years
  • An untimely reminder
  • Why change is so difficult
  • Key Strategies for equalising super