Updated Compliance Program 2004-05 - This information was updated on 13 October 2005

Reporting correct information

The issues that we outlined in Large business and tax compliance continue to attract our attention.

We assist large businesses to provide accurate information through a variety of help and advice products and approaches. For example, we work with consolidating groups that seek our help in accurately completing their first consolidated tax return.

Large business dealings, including the operating environment and tax law, can be very complex. By working closely with industry and professional body representatives, we continue to identify uncertainties around the application of the tax law and publicly explain our views through our public rulings, education and support programs. We are responding to requests for pre-lodgment reviews, piloting forward compliance agreements and continuing to promote advance pricing arrangements and private binding rulings.

We are continuing to better understand large businesses and identify where compliance issues arise. We have risk identification and compliance programs to address areas of non-compliance and tax avoidance. Our systematic profiling is being extended to include tax return and activity statement information, publicly available information in financial reports and the media, and information from our compliance program. We are gradually integrating risk analyses for domestic and international tax issues.

Sections within D. Large business

• Registering in the system
• Reporting correct information
• Tax reform
• Capital gains tax
• International tax issues
• Employer obligations
• GST issues
• Losses
• Aggressive tax planning
• High wealth individuals
• Foreign exchange gains and losses
• Market valuations
• Service trusts
• Research and development tax concession
• Superannuation issues
• Excise issues
• Meeting lodgment obligations
• Meeting payment obligations
• How we help you comply