ATO Audits – Activity & Aid

Individual taxpayers:

• 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, capital gains and foreign source income;

Micro enterprises (businesses with an annual turnover of under $2 million or superannuation funds with less than $2 million in assets):

• unrecorded and unreported cash transactions;
• employer obligations;
• GST refund integrity and GST evasion;
• incorrect fuel tax credit claims following implementation of the clean energy measure;

Small to medium enterprises (businesses 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;

Superannuation

• SMSFs compliance with obligations, including
• income tax
• illegal early access to superannuation
• the competency of approved auditors;
• employer compliance with their superannuation guarantee obligations;
• the quality of information reported to us by superannuation funds;
• excess contributions paid into superannuation funds;
• large fund compliance with their income tax obligations.