The Commissioner of Taxation - Annual Report 2002-2003

Finance houses

Finance houses are an important focus area because of their role as designers and promoters of financing arrangements and investment products. The continuing Tax Office focus on finance houses helps to identify emerging arrangements or products.

Risk assessment of financing arrangements is important to identify any revenue system 'hotspots'. We seek to work in a cooperative relationship with finance houses to engage in dialogue on real-time matters and, where necessary, deliver an early view on any issues of concern.

Our cooperative relationship with finance houses has been important in opening channels of dialogue with tax managers and other key executives. This has helped minimise compliance costs arising from Tax Office enquiries to finance houses.

Sections within 3.5 Focus areas

• Aggressive tax planning
• Mass marketed investment schemes
• Employee benefit arrangements
• Approaches to managing aggressive tax planning
• Promoters
• Case studies: Capital gains tax scheme goes for the doctor
• Finance houses
• Tax havens
• Communicating the Tax Office view
• Product rulings
• High wealth individuals
• Revenue
• Arrangements under review
• The Cash Economy
• Australian business number
• Working with others
• Compliance dividend
• Communication
• Case study: You have to know your potatoes!
• Working with government agencies
• Illicit tobacco
• Those outside the system
• Legal Profession Project
• Lodgment
• Debt levels
• Bankruptcy
• Prosecutions
• Tax collections
• Relationship management
• AUSTRAC and the Tax Office
• Forensic accounting