19 Jul 2012 Compliance program 2012-13

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