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  • Significant and new transactions and specific tax risks

    We seek to understand and review the income tax treatment of the taxpayer’s business activities, particularly significant and new transactions. We also look for and review risks or concerns communicated to the market and determine if they are present.

    In June 2020 we published a guide to help taxpayers covered by the program to:

    • understand what attracts our attention
    • prepare for engagements with us, and
    • improve their (and our) confidence in their tax outcomes.


    We apply a consistent rating system when reviewing and assessing the income tax treatment of taxpayer’s business activities including significant and new transaction and tax risks communicated to the market.


    We obtained a high level of assurance that the right Australian income tax outcomes were reported in your income tax return(s). This means we are unlikely to contact you again in relation these matters for the income years reviewed unless something new comes to our attention.


    More evidence and/or analysis is required to establish a reasonable basis to obtain a high level of assurance.


    More evidence and/or analysis is required to determine whether a tax risk is present.

    Red flag

    Likely non-compliance with the income tax law.

    Out of scope

    We have not evaluated this item and not expressed a rating.

      Last modified: 02 Oct 2020QC 63840