• 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.

    Where your dealings are transparent, we can tell you what we know about you, including our view of your group's tax risk profile, so you can work with the ATO where needed to get things right.

    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

    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 if you wish. We will review any information you give us and update our records as required.

    You can simply confirm or correct our information, instead of having to provide all the information yourself. It's part of our commitment to improving the client experience, increasing transparency and reducing red tape.

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    Last modified: 27 May 2016QC 44824