17 Feb 1010 Deputy Commissioner's address - Examining Compliance, ATO Governance & Tax Risk Management
On 16 February, 2010, the Deputy Commissioner, Jim Killaly, gave an address entitled "Examining Compliance, ATO Governance & Tax Risk Management" to the 7th Annual Corporate Tax Summit, held in Sydney, New South Wales.
The address gives the ATO perspective on the large business sector, that is, the 1,100 economic groups with a turnover greater than $250 million. Mr Killaly said that the 1,100 economic groups in the large business sector contain around 32,500 entities, with around 5,000 of those entities lodging tax returns. In addition, there are approximately 200 special categories of financial institutions, giving a total of around 1,300 groups in the large business sector. Large business paid $37.76 billion in company tax for the 2009 financial year, representing 62.2% of total company tax collected.