| Compliance Program - current areas of focus |
| The key areas of focus relating to tax avoidance arrangements are published annually in the Compliance Program. Here we have expanded the list to include other areas of focus. |
| Areas of focus - Financial products |
| Investors should carefully review any materials (such as Product Disclosure Statements) that describe the tax treatment of financial products before deciding whether to invest in the product in question. |
| Barossa Vines Project 2007 - withdrawal of product rulings |
| The withdrawal of the product rulings means that investors are not entitled to claim deductions for losses from the project in the income year in which the losses arise. Any losses incurred must be deferred. |
| Charity donation schemes |
| We found that a scheme promoting the giving of pharmaceuticals to Australian charities for use overseas on the basis that a tax deduction was available to the donor was a tax scheme. Participants had their tax deductions disallowed. Explains how the law applies and consequences for investors. |
| Claiming interest deductions in certain uncommercial trust arrangements |
| Draft Taxation Determination TD 2008/D16 follows two taxpayer alerts outlining our concerns about taxpayers claiming tax deductions for interest paid on money borrowed to subscribe to units in some uncommercial trusts. |
| Collapse of agribusiness managed investment schemes: participant information |
| The financial difficulties of companies managing agribusiness investment schemes may have changed the tax obligations of investors. Investments included grape, berry, avocado, mango, citrus, olive, almond, beef, abalone and forestry projects. Find out if you are affected and what you need to do. |
| Controlling interest superannuation scheme |
| We have concerns about arrangements where supposedly no tax obligations arise. Includes summaries of court cases. |
| Developing financial products: how the ATO can help |
| Taking the time to engage with us as early as possible when you are developing a financial product enables us to work together to confirm the likely tax consequences of the product. |
| Don't take the bait |
| Promoters of some tax planning arrangements are simply fishing for your money. Their bait is the promise of high investment returns and generous tax breaks. To reduce your risk of getting caught, learn about the differences between a genuine tax planning arrangement and a tax avoidance scheme. |
| Employee benefit trust arrangements |
| We have concerns about arrangements structured to provide a large tax deduction to the employer and avoid a fringe benefits tax liability. |
| Employee Benefit Trusts: how do the taxation laws apply? |
| The tax treatment of an employee benefit trust (EBT) will depend on the way it is implemented. Find out what a genuine arrangement looks like. An EBT arrangement that is not a genuine arrangement may be a tax avoidance scheme. |
| Employee share or incentive plans |
| We have concerns about arrangements where the only participants are the controllers of the employer business. |
| Good governance and promoter penalty laws |
| Good governance practices help tax advisers to manage their tax risks, including promoter penalty risks. |
| 'Hutt River Province' and international business companies |
| The 'Hutt River Province' is not legally recognised by the Australian Government. You should avoid any arrangements involving 'Hutt River Province' international business companies. |
| Investigating tax-effective arrangements |
| Information to help you identify some of the common types of tax schemes, the precautions you can take and the consequences of getting it wrong. |
| Mass marketed investment schemes - a historical overview |
| In the late nineties the financial arrangements of a number of widely marketed schemes raised our concerns. This was an era when there were few protection measures available. In the circumstances, the Commissioner gave taxpayers an opportunity to settle their scheme debts. Includes court decisions. |
| Offshore superannuation scheme |
| We have concerns about funds that avoid super contributions tax and surcharge. Participants in these schemes should contact us to discuss a settlement. |
| Promoter penalty laws: Practice statements |
| The processes and principles we follow in applying the promoter penalty laws, including how we determine the appropriate action to take against promoters (ranging from accepting a voluntary undertaking to applying to the Federal Court for an injunction or the imposition of a civil penalty). |
| Recognising, rejecting and reporting tax avoidance schemes |
| Information on good governance and managing promoter penalty risks, including what to do if your client asks about or is involved in a potential tax avoidance scheme. |
| Reporting a potential contravention of the promoter penalty legislation |
| Promoter penalty laws operate to deter the promotion of tax exploitation schemes. If you suspect these laws have been contravened you should let us know. |
| Reporting a tax avoidance scheme |
| If you suspect or know about a tax avoidance scheme you can tell us about it by phone or by completing an online form. |
| Tax advisers: Your referrals quash tax avoidance schemes |
| Tax advisers are well positioned to recognise potential tax avoidance schemes and let us know about them. |
| The promoter penalty regime - How the ATO is applying it in practice |
| Prior to the introduction of promoter penalties, there was an imbalance in sanctions. The promoter penalty regime has helped to redress this imbalance and to support a 'prevention rather than cure' strategy. |
| Voluntary undertakings |
| Under the promoter penalty laws the Commissioner may accept a confidential voluntary undertaking from an entity in order to deter promotion of tax exploitation schemes. |
| Widely-based settlement arrangements for investment schemes and employee benefit arrangements entered into after 30 June 2003 |
| Details all the widely-based settlements that have been endorsed by the widely-based settlement panel for investment schemes and employee benefit arrangements entered into after 30 June 2003. |
| Widely-based settlement arrangements for investment schemes and employee benefit arrangements entered into before 30 June 2003 |
| Details all the widely-based settlements that have been endorsed by the widely-based settlement panel for investment schemes and employee benefit arrangements entered into before 30 June 2003. |