Compliance program 2011-12

$100 million - $250 million segment

This is the final year of the four year budget-funded program to expand our risk assessment of businesses with turnovers between $100 million and $250 million. In the program's first three years, we have completed over 1,000 risk assessments, 270 reviews and 30 audits. This work has generated over $245 million in liabilities, with an additional $53 million liabilities raised from associated lodgment enforcement activities.

Our risk assessments find risks relating to international transactions, capital gains tax, trusts and tax-reconciliation items.

This year, we will:

• finalise our four-year program of risk assessments
• complete 400 risk assessments and reviews and 40 audits
• engage taxpayers and/or practitioners where we identify continued poor tax performance
• share our key findings and trends we identify with tax practitioners and key advisers servicing this segment.

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