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Tax committee roles for investment commentators

TWO leading commentators on the controversial tax-effective investment industry have been invited to join an Australian Tax Office consultative committee dealing with the issue.

Wilson Atkinson partner Frank Wilson (below right), along with Business News finance writer and SMCR Financial Planners partner Suresh Rajan (above right), have been asked to join the committee, which will help the ATO develop guidelines to decide which people affected by adverse tax rulings on tax effective investments should be entitled to a lower interest rate on their tax debt.

Both men will feature in the June 7 Business News breakfast debate Tax effective investments, are they worth the risk?

Tax Commissioner Michael Carmody announced recently that the interest charged on tax debts created when the ATO removed tax deductions from some tax effective schemes would be cut from 13.86 per cent to 5.86 per cent.

Mr Rajan generated an unprece-dented flood of mail to Business News when he recently told readers he had warned investors to steer clear of these investments years ago.

But Mr Wilson, who has long been involved with the sector, has a different view and believes that tax-effective investments have the same risk of failure as many other investment classes, even shares.

Mr Rajan and Mr Wilson will be debating the merits of tax effective investments on June 7 at the Grand Chancellor Hotel.

For more information on the breakfast debate email Claire Terpstra on claire@businessnews.com.au or phone 9227-9544.

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