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Managing Tax Audits

Published on 18 Mar 2009 | Took place at Swissotel, Sydney, NSW

The Australian Taxation Office (ATO) has stepped up its field work through an expanded use of reviews of risk areas and tax audits. This trend is set to continue.

This event focused on small and medium enterprises (“SME”) related ATO activity.

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Individual sessions

Managing tax audits: ‘Developing an enhanced relationship – achieving voluntary compliance and minimising costs to clients’

Author(s):  Simon LE MAISTRE

This paper gives participants an understanding of the ATO’s current views on Risk Reviews and Tax Audits. It covers:

  • expectations and commitments
  • global financial crisis
  • an enhanced relationship directed to voluntary compliance - a view to the future.
Materials from this session:

A contextualisation of the SME $100 - $250 M Turnover Risk Assessment Project

Author(s):  David DRUMMOND This paper contextualises current ATO review activities focusing on SME’s. It covers:

  • the evolution of a risk based approach to tax administration directed to voluntary compliance
  • proposed and current activities relating to SMEs
    • the $100-250m turnover project for 2009-12
    • specific issue reviews: overview
  • selection for participation in active compliance
    • published risk indicators and risk filters
    • the ATO risk engine - past, present and future.
Materials from this session:

Risk assessment questionnaires case studies

Author(s):  Neil WICKENDEN

This presentation highlights issues arising in respect of ATO risk assessment questionnaires, including:

  • BAS statement reviews
  • losses
  • cash economy
  • small business CGT concessions.
Materials from this session:

Audit process

Author(s):  Michael COUGHTREY

This paper examines key issues arising from the expansion of a Risk Review to a Tax Audit. It covers:

  • access to documents by the ATO:
    • legal professional privilege
    • accountant’s privilege
  • penalties and interest:
    • RAP’s
    • voluntary disclosure
    • commencement of an audit
  • time running - out of time amendments:
    • fraud and evasion
    • no tax years
    • tax losses
  • achieving settlement.
Materials from this session: