Compliance program 2008-09

Snapshot of our 2007-08 activities

Serious abuse of the tax and superannuation systems

Serious non-compliance

During 2007-08 we:

• completed 314 audits, raising liabilities of $330 million (over one-third came out of Project Wickenby)
• completed 178 investigations, resulting in 67 prosecutions before the courts, all of which were successful
• issued 21 excise penalty infringement notices.

Project Wickenby

As part of our Project Wickenby activities we:

• raised liabilities of $140 million
• collected more than $53 million in cash with a further $44 million in collections as a result of improved compliance behaviour by Wickenby participants
• completed 109 audits, raising 200 amended assessments
• had $60 million restrained under the Proceeds of Crime Act.

Results of our activities are based on preliminary data and are indicative only. Final results for 2007-08 will be published in our Annual report 2007-08, due for release in October.

Sections within Serious abuse of the tax and superannuation systems

• Headline issues
• Our general approach
• Working with other agencies
• Proceeds of Crime Act
• Specific compliance issues
• Snapshot of our 2007-08 activities