Compliance program 2011-12

Capital gains tax

We are increasing use of third-party data to match real property and share transactions. We will match third-party data from real property sales to our records as an integrity approach to identity instances of non-reporting. We except to extend this approach to the matching of share transactions using third-party share registry data. We will also match disposals by private groups to capture intra-group transfers and identify non-reporting of disposals by non-residents and corporate trustees not registered with us.

Where possible we will issue pre-lodgment letters, or contact taxpayers where we detect discrepancies. We will also use post-lodgment letters where we suspect taxpayers may have omitted or incorrectly reported their capital gains or losses. We will escalate high risk cases we identify for review or audit.

We will provide taxpayers and their practitioners with messages to help them manage their capital gains tax reporting obligations. We will use a range of communication products to raise awareness of new and emerging capital gains tax risks.

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