Compliance program 2011-12

Information matching

Each year we cross reference information reported in tax returns against at least 500 million transactions reported by other parties. Information that we match includes:

• employment, welfare and investment income
• property and share dividends and disposals
• employee share schemes
• foreign transactions and international funds transfers
• superannuation information
• health insurance policies, including the level of cover held by an individual.

We will contact over 400,000 taxpayers who have apparent discrepancies in the information they reported. Where necessary we will amend their returns.

Where people have not lodged, we will issue assessments based on information we currently hold. We will impose penalties as appropriate.

Our matching program also extends to superannuation obligations. We will match information provided by superannuation funds, including member contribution statements, lost member reports, auditor contravention reports and self-managed superannuation fund annual returns. We will ensure the law is followed when individuals claim income tax deductions for personal contributions to superannuation funds. The information will also help us to manage contribution caps and calculate co-contributions.

Sections within Individuals

• Employees and contractors
• Work-related expenses
• Overseas income
• Pre-filling tax returns
• Information matching
• Refund fraud
• Split loans
• Referrals to the Tax Practitioners Board
• Superannuation
• Executives, directors and other highly paid individuals