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  • About privately owned and wealthy groups

    We view privately owned and wealthy groups as:

    • companies and their associated subsidiaries (often referred to as economic groups) that have an annual turnover of more than $10 million and are not public groups or foreign-owned
    • Australian resident individuals who, together with their business associates, control net wealth over $5 million.

    Privately owned and wealthy groups operate some of Australia's largest and most successful businesses. Many have complex financial and legal arrangements.

    Our approach is to link all entities that are under the control of an individual and their associates. By control, we mean effective control where an individual has the primary decision-making role in the group.

    By grouping entities this way, we are able to better understand the choices and behaviours of the controlling mind behind a private group structure.

    Private group populations

    There are nearly 200,000 private groups in Australia, with over 1.2 million reporting entities. We tailor our activities by dividing private groups into three populations:

    • large private groups (Top 500) that are not public groups or foreign-owned
      • with over $350 million in turnover, regardless of asset value
      • with over $500 million in net assets, regardless of turnover
      • with over $100 million in turnover and over $250 million in net assets
      • that involve a company with total business income of over $250 million and are included in the large company tax gap population
      • that are market leaders or of specific interest.
       
    • high wealth private groups – that is, entities linked to an Australian resident individual who, together with their associates, control wealth of more than $50 million
    • medium and emerging private groups, which include
      • private groups linked to an Australian resident individual who, together with their associates, control wealth between $5 million and $50 million
      • Australian businesses with annual turnover of more than $10 million that are not public or foreign-owned and not linked to a high wealth private group.

    Note: These populations are not mutually exclusive – some associated entities belong to more than one population.

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    Last modified: 30 Oct 2019QC 44820