Show download pdf controls
  • How we identify wealthy individuals and their businesses

    Wealthy individuals are resident individuals who, together with their business associates, control net wealth of $5 million or more.

    We use sophisticated data matching and analytic models, drawing on tax returns and referrals from other government agencies or the community, to identify wealthy individuals and link them to associated businesses.

    As part of our commitment to being open and transparent we will engage with you, offering assistance and services to help you get things right up front.

    We can tell you what we know about you, including our view of your group's income tax profile, so you can work with us where needed.

    If the information we hold about you is limited, we may contact you or your tax adviser to better understand your circumstances, and to confirm or correct our view of your wealth and group structure. As part of this engagement you'll have the opportunity to check if the information we have about you is correct.

    Engaging high wealth individuals

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Wealthy individuals who control net wealth of $30 million or more are classified as high wealth individuals (HWIs).

    Given the importance of this group to community confidence in the tax and super systems, we have an ongoing focus on them.

    If our systems indicate you have effective control of $30 million or more in net wealth, we may engage with you asking for validation of your net wealth. Our engagement may include providing our view of your group structure, which you can also check and correct. We will review any information you give us and update our records as required.

    This early engagement is part of our commitment to improving the client experience, increasing transparency and reducing red tape.

    Next steps:

    Last modified: 26 Sep 2018QC 44824