Financial abuse through coerced directorships an issue for SMSFs as well
In a submission to a consultation into combatting financial abuse perpetrated through coerced directorships, the SMSF Association said this can occur in an SMSF that is established with a corporate trustee, and the perpetrator and victim-survivors become directors of the corporate trustee, as well as a member of the SMSF. “Once the SMSF is established, the perpetrator can coerce or even fraudulently rollover the victim-survivor’s...
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