The ATO has updated its Compliance in focus 2013-14 document to be current as at 19 December 2013 to include final 2012-13 results and 2013-14 plans. Key focus areas and activities for the ATO for 2013-14 include:

  • Large business – income tax (including tax consolidation issues, CGT outcomes, complex structuring and scrutiny of financial arrangements) – the ATO plans to conduct 250 risk reviews and 60 audits.
  • Profit shifting – large business and medium enterprises – the ATO plans 125 risk reviews and 26 audits.
  • Trusts Taskforce and trusts lodgment compliance – the ATO plans 5,000 data matching cases, and around 700 income tax reviews and audits (over the next 4 years).
  • Medium enterprises – income tax (including CGT, consolidation, trusts, private company schemes and fraudulent phoenix activity) – the ATO plans 1,000 reviews and audits, and 2,500 contacts to verify information or provide advice.
  • GST – checking business systems taxpayers use to determine GST payable. Focus will be on specific industries, including mining, financial and insurance services. The ATO will check 2,050 cases.
  • Individuals and small enterprises, including contractors – omitted income (including capital gains, government grants and payments, interest and dividends) – the ATO plans 1,670 CGT reviews, 790 government grants and payments, 350,000 data matches, and will check employer obligations in 5,250 cases.

[LTN 247, 20/12/13]

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