The Assistant Treasurer Tue 24.4.2012 released the Inspector-General of Taxation’s Review into the ATO’s compliance approaches to SMEs with annual turnovers between $100m and $250m, and high wealth individuals.
The Inspector-General conducted this review in response to concerns raised by taxpayers, tax practitioners and their representative bodies following the ATO’s increased compliance focus on SMEs and high wealth individuals.
The Assistant Treasurer said the Report has identified “key opportunities for the ATO to improve in a number of areas” including its technical capability and support, initial compliance decision making, project management, audit conduct, communication and engagement and information gathering. The Inspector-General made 41 recommendations. The ATO has agreed in full with 38 of the recommendations, 2 in part and disagreed with one.
Source: Assistant Treasurer’s media release, 24 April 2012
[LTN 77, 24/4]