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The red and blue corners - Demystifing ATO dealings from audits to tax agent profiling and everything in betweeen

Published on 25 Feb 2014 | Took place at City West Receptions, West Perth , WA

Ever wondered how the Australian Tax Office (“ATO”) assesses your clients in terms of risk to revenue? What sort of risk assessment is more likely to result in an ATO review or audit activity? As a tax agent, how do you rate in comparison to your colleagues and what do these ratings mean? The ATO now utilises a point-in-time risk management tool called the risk differentiation framework (“RDF”) to assess these risks.

Tax practitioners interact with the ATO on a frequent basis, lodging forms and returns, responding to formal and informal requests for documentation, dealing with reviews and audits and notices of objections. Practitioners and senior ATO officers will discuss ways to ensure effective and efficient interaction with the ATO.

Individual sessions

Risk differentiation framework - Practical application in the PGH market

Author(s):  Brian Menezes

This presentation covers:

  • context setting – PGH demographics
  • applying the risk differentiation framework to the PGH market
  • applying strategies using RDF risk profiles
  • risk differentiation – Our approach to tax intermediaries.
Materials from this session:

Session 1

Author(s):  Tim Roach

This presentation covers:

  • cash economy – current state
  • use of analytics and data matching
  • registered agent cash economy profile for your practice
  • tax agent profile report; and
  • range of tax agent client listing reports available to assist agents in managing their practice
  • ATO tax agent expectations in relation to:
    • benchmarking including working papers and evidence of discussions held with clients 
    • registered agent client debt profile
  • steps in how to improve a tax agents’ "standing" with the ATO:
    • 85% on time lodgement requirement – how it is calculated and tips to help meet the requirement within your practice.
  • how the ATO and Tax Agents can better improve communication for the benefit of the clients, ATO:
    • the ATO into the future.
Materials from this session: