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Does the ATO think your client is too risky?
Published on 01 Dec 16 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
In 2013, the Inspector-General of Taxation recommended that guidelines should address “the governance, inputs and transparencies of the ATO’s risk assessment process as well as related communication with taxpayers and the proportionality of resulting ATO compliance action to detected risks”. The ATO has been taking a fresh look at its compliance approaches through its “reinvention program”. The ATO’s reinvention has refocused its taxpayer segment from small-to-medium enterprises to private groups. This signals a number of significant shifts which allow the ATO to appreciate the structures and legal frameworks that are used by private groups, to recognise that private groups have different governance and reporting requirements, and to more effectively tailor its approaches based on choices, behaviours, circumstances and levels of certainty in recognising the needs of private groups. This article addresses risk and compliance issues for privately owned and wealthy groups, and examines how attitudes within the ATO, the tax profession and taxpayers generally are changing.
Author profile
Adrian Abbott CTA
Adrian is a tax consultant and brings 35 years’ experience in accounting and tax for his widely diverse client base. In the last five years he has focused on risk reviews and dispute resolution with the ATO and the OSR. He is a member of the Taxation Institute's Dispute Resolution Committee and promotes to Practitioners the benefits of the ATO's initiative in the facilitation process. - Current at 07 March 2018
The Tax Institute is Australia's leading professional association and educator in tax providing the best resources, professional development and networks.