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  • Updates to 'What attracts our attention'

    We recently updated What attracts our attention to let you know what behaviours, characteristics and tax issues attract our attention in our dealings with you.

    Updated tax issues

    It’s important to us that we regularly keep this content up to date to give you relevant and easy to find information. We want to assist you in your understanding of tax and super matters to help you get things right when it comes to tax time.

    We've updated the information as to what we look for in the following areas:

    • non-lodgment – if you avoid or delay payment of tax by not lodging your tax return, fringe benefits tax (FBT) return or activity statement
    • business structure – risks associated with consolidations, international transactions, professional firms and trusts
    • transactions and taxes – issues that attract our attention relating to:
      • capital gains tax (CGT)
      • franking credits
      • fringe benefits tax
      • taxation of financial arrangements
       
    • tax crime – how we target illegal phoenix activity, refund fraud, identity crime and organised crime.

    Behaviours and characteristics

    The following behaviours and characteristics may also attract our attention:

    • accessing business assets for private use
    • aggressive tax planning
    • choosing not to comply, or regularly taking controversial interpretations of the law, without engaging with us
    • large, one-off or unusual transactions, including the transfer or shifting of wealth
    • lifestyle not supported by after-tax income
    • low transparency of your tax affairs
    • poor governance and risk-management systems
    • tax or economic performance is not comparable to similar businesses
    • tax outcomes inconsistent with the intent of the tax law.

    If you're concerned about your tax or super position, you can:

    See also:

    Last modified: 11 Apr 2019QC 58500