Wednesday 25 April 2012: The release of the Inspector-General of Taxation's review into the ATO's audits of SMEs and high wealth individuals justifies the long-held concerns of tax professionals.
The review, undertaken in response to concerns raised by tax professionals and small businesses, will provide much-needed clarification for small businesses regarding the audit practices of the ATO said The Tax Institute’s President, Ken Schurgott.
He said: “Tax Institute members have long held concerns about a lack of appropriate resourcing and training of ATO SME auditors.
“There is no excuse for taxpayers being unfairly treated and subject to unnecessary compliance costs.
“The Inspector-General’s review findings centre on improving project management, ATO conduct and communication.
“The ATO has agreed with the vast majority of the Inspector-General’s recommendations and this is a welcome outcome.
The Tax Institute’s strong advocacy on behalf of members’ real life concerns contributed to the establishment of the Inspector-General’s review.
“The two year period over which this review process has occurred has enabled the ATO to acknowledge existing deficiencies and begin work on addressing them.
Many of the identified deficiencies and proposed solutions accord strongly with improvements advocated for by The Tax Institute throughout the period of the review.
“We will continue to work with the ATO to ensure the recommendations are implemented as quickly as possible, such that the SME taxpayer experience is considerably improved,” Mr Schurgott said.
For more information contact:
- Robert Jeremenko, Senior Tax Counsel, The Tax Institute: 0468 987 300.
- Dylan Malloch, Sefiani Communications Group: 02 8920 0700, 0407 620 613