In 2024, the ATO is continuing to target illegal early release which significantly impacts the retirement savings of Australians and can lead to an increased reliance on taxpayer-funded pensions in the future. In order to weed out illegal early release, the ATO implemented various strategies and programs to gather intelligence for their risk detection models in order to initiate compliance action where appropriate. As with previous years, these strategies will be used in conjunction with guidance and education support for new trustees.
