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SME risk differentiation framework paper

Published on 02 May 13 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

In August 2012, the ATO released its latest Compliance Program for small to medium enterprises and wealthy individuals, showing an important change in its approach to this part of the economy. The ATO has been applying its Risk Differentiation Framework to large business for some years, classifying taxpayers’ risk and determining the level of review or audit activity as a result.This Framework is now being applied to SMEs and wealthy individuals for the first time, and is likely to significantly change how and why a taxpayer is selected for review.

This paper involves Scott Bryant, a tax partner at PwC with many years of experience in dealing with the ATO, and Michael Cranston, the Deputy Commissioner Small and Medium Enterprises. Scott and Michael take you through the practical implications of the new ATO approach, how your clients may attract ATO attention, how the ATO classifies taxpayers, and what the consequences of different risk classifications can be.

Author profiles:

Michael CRANSTON
Current at 07 August 2009 Click here to expand/collapse more articles by Michael CRANSTON.
 
Author Photo - Scott BRYANT
Scott BRYANT
Current at 24 April 2012 Click here to expand/collapse more articles by Scott BRYANT.

 

This was presented at 46th South Australian Convention .

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SME risk differentiation framework

Author(s):  Scott BRYANT,  Michael CRANSTON

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