Compliance program 2011-12

Small-to-medium enterprises

There are over 175,000 businesses in Australia with an annual turnover of between $2 million and $250 million. We classify these businesses as small-to-medium enterprises.

Small-to-medium enterprises range from simple single entities, to businesses with highly complex group structures, many with offshore interests. This segment is notable for the diversity of its taxpayers in terms of structure, business size, activities and industry.

However, most of these enterprises share one characteristic - around 98% are privately-owned. The private nature of many small-to-medium enterprises can give rise to issues about transparency of decisions and actions of individuals in control that may influence the tax affairs of businesses they own.

Sections within Small-to-medium enterprises

• Private groups
• Highly wealthy individuals
• Wealthy Australians
• $100 million - $250 million segment
• Employer obligations
• Lodgment compliance
• Trusts
• Phoenix arrangements
• Overseas interests and international dealings
• Division 7A
• Capital gains tax
• Foreign residents
• Capital and revenue losses
• Restructuring by professional firms
• Fringe benefits tax
• Taxation of financial arrangements (TOFA)
• Small business and general business tax break
• Goods and services tax (GST)
• Refund integrity
• Property
• Retirement villages
• Integrity of business systems
• Financial supplies
• International and cross-border transactions
• GST serious evasion
• Excise
• Excise equivalent goods
• Tax reporting of exports including excisable goods
• Wine equalisation tax
• Alternative fuels
• Superannuation
• Managing business tax debt