Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
  • click to visit Mr Taxman on Twitter
  • click to visit Mr Taxman on FaceBook
  • rss

ATO announces its "hit list" for 2013/14

Jul 16, 2013

Today the ATO has released their annual "hit list" Compliance in focus 2013-14 which replaces their previous annual compliance program booklet. This new online product, which they developed in consultation with tax professionals, will be updated throughout the year to keep you informed of new issues and risks as they arise.

Compliance in focus 2013-14 highlights the compliance risks attracting the ATO's attention and the actions that they are taking to deter, detect and deal with those who do not meet their tax and superannuation responsibilities. It is not an exhaustive list of all the compliance activities that the ATO undertakes but it concentrates on their key focus areas for 2013-14 and provides a snapshot of their achievements for 2012-13.

This year the ATO will be looking closely at:

  • profit shifting
  • tax crime, and
  • misuse of trusts.

Other focus areas identified as risks to tax and super compliance this year include:

  • incorrect work-related expenses claims
  • correct reporting of taxable income by wealthy individuals
  • correct reporting of PAYG withholding
  • contractor arrangements
  • participation in tax planning schemes
  • phoenix activity in small and medium businesses
  • payment of super guarantee by employers.

A key tool in uncovering tax avoidance is the ATO's data and information matching program which is expanding this year to include higher quality data on sales of shares, property and units in managed investment trusts, and a greater range of international bank transactions.

Stopping false claims and identity crime are also continuing priorities this year as the ATO increasingly analyses and matches information provided by third parties.

The ATO have worked with the professional associations, through their peak tax practitioner consultative groups, to test the compliance risks that they have identified and sought views on risk areas that they should consider.

Tags: CGTCompany taxDeductionsEmployersFBTGSTPersonal taxSharesSmall BusinessSuper

Author: Bruce Quigley, Second Commissioner, Compliance ATO

Comments

Post a New Comment

Media Availability

Are you interested in booking Mr Taxman for a speaking engagement or requesting his viewpoints for an article?

comments-rhsLatest Comments

  • "Hello, i can never forget to appreciate what The Great Dr bello has done in my life for helping me to cure my HIV disease with herbs, he is the only herbalist doctor that i know can cure different..."

    By: budemikky at Dec 19, 2018 7:01AM

    Post: Foreign currency trading

  • "My husband left me for a younger woman and I was devastated. It was as if she had him under an evil spell, Paul turned against me overnight without any warning. It happened last year, I was desperate..."

    By: Wendy Burns at Dec 18, 2018 12:39AM

    Post: Marriage

  • "Can you claim interest expense at D8 if you have had no dividend income in the year, but have borrowed for shares "

    By: C Nyle at Dec 17, 2018 2:51AM

    Post: Borrowing to buy shares

  • "I AM DR OKUMAS,THE TRUSTED SPELL CASTER, PSYCHIC, SPIRITUALIST, REMOVE BLACK MAGIC .CONTACT FOR HELP.(okumasinstantspells@mail.com) Am a specialist traditional healer and love spell caster. I have..."

    By: Okumas at Dec 14, 2018 10:38PM

    Post: Marriage

  • "My name is ethan micheal ,am from USA.i want to share my wonderful testimony on how i got back my husband back, who i sworn ever to be with until when he left me to another woman for no reason and i..."

    By: ethan micheal at Dec 14, 2018 6:02AM

    Post: Mr Taxman: Talking You Through Taxation