Show download pdf controls
  • Ensuring fairness for the community

    We encourage voluntary compliance and a level playing field by complementing our range of assistance products and services with a balance of early detection and deterrence activities, including audits and reviews, investigations and prosecutions.

    Highlights
    • Prevented $189.5 million of income tax revenue from being paid out where claims were incorrect or fraudulent
    • Used third-party data matching to ensure correct reporting in following years – resulting in additional revenue of $939.3 million
    • As a result of our compliance actions, we raised over $9.3 billion in tax liabilities and over $2.8 billion in penalties and interest liabilities and collected $7.9 billion in cash, some of which related to liabilities raised in prior years
     
    Looking ahead
    • Increase focus on reasonable and fair compliance outcomes
    • Improve tax file number integrity to help safeguard against potential identity theft
    • Establish a trust task force to deal with those who seek to misuse trusts to avoid paying their fair share of tax
    • Work across jurisdictions to deal with profit-shifting and to ensure international companies pay the right amount of tax in the appropriate country
     
    Last modified: 07 Oct 2014QC 42690