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  • Next 5,000 program in 2020–21

    This year we will be engaging with you and your clients through Streamlined Assurance Reviews. These reviews are part of the Next 5,000 tax performance program, which was formerly known as the high wealth private groups tax performance program.

    Entities linked to an Australian resident individual who, together with their associates, control wealth of more than $50 million, may be subject to these reviews.

    We generally provide a three month notification period before we start these reviews.

    To support businesses during this time, you and your clients may be offered an alternative to the three month notification period. Where you agree to this option, we will work with you to start the review straight away and give you additional time to respond to our request for information (up to 10 weeks).

    We will review the income tax (and in some cases the GST) consequences of your client's significant transactions, events and activities. This will involve requesting evidence to help us establish that the right amount of tax has been paid.

    Our website lists the types of evidence we typically request at the start of a review. This is to help you and your client gather the evidence as part of your preparation.

    Find out about preparing for a Next 5,000 streamline assurance review and our Next 5,000 tax performance program.

    Last modified: 08 Oct 2020QC 63870