ATO compliance targets
Written on the 14 February 2013 by Macmillans Waller Fry
Leading up to the end of the financial year, the ATO has highlighted a number of areas that it will focus on in its compliance activities for small business.
The ATO has divided the small business sector into three segments:
Characteristics that attract the ATO's attention are:
The ATO's main tool for detecting non-compliance is matching information reported to it by taxpayers and third parties, such as financial institutions both in Australia and overseas.
This financial year, the ATO expects to match over 600 million transactions.
Should you have any concerns about the ATO's tax compliance targets please do not hesitate to contact our office.
Author: Macmillans Waller Fry