The ATO has published its Compliance program for 2012-13.
Over the coming year, the ATO says it will focus on the following compliance risks for individuals:
- incorrect or fraudulent refunds from over-claiming and deliberate fraud
- review of work-related expenses for occupations with high levels of claims
- people getting caught up in tax avoidance schemes
- omitted income, including dividends and interest.
It will focus on the following compliance risks for micro enterprises:
- unrecorded and unreported cash transactions employer obligations
- GST refund integrity and GST evasion
- ensuring businesses are correctly registered in the tax system
- supporting businesses in meeting their lodgment obligations
- incorrect fuel tax credit claims following implementation of the clean energy measure.
It will focus on the following compliance risks for small-to-medium enterprises (SMEs) with an annual turnover of between $2 million and $250 million:
- participation of wealthy individuals in the tax and superannuation systems
- use of trusts to inappropriately minimise tax
- Division 7A – treatment of private company profits
- capital gains – non-disclosure and incorrect reporting
- employer compliance with fringe benefits tax rules
- integrity of business systems for GST and excise obligations
- GST and property transactions.
For more information and a copy of the ATO's Compliance program for 2012-13, go here