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  • Medium and emerging private groups tax performance program

    The medium and emerging private groups tax performance program supports medium and emerging private groups to meet their tax obligations. It's one of our programs under the Tax Avoidance Taskforce, aimed at building community confidence that private groups are paying the right amount of tax.

    Medium and emerging private groups represent about 97% of the total private group population. Through the program we'll increase our understanding of the current environments these groups operate in. This will help us to identify developing trends and tax risks that affect these groups, and design tailored approaches to mitigate those risks.

    The medium and emerging private groups tax performance program runs for four years.

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    Who is covered by this program

    The program covers:

    • private groups linked to Australian resident individuals who, together with their associates, control wealth between $5 million and $50 million, and
    • businesses with an annual turnover of more than $10 million, that are not public or foreign owned and are not linked to a high wealth private group.

    The program doesn't cover private groups or businesses already a part of the Top 500 private groups tax performance program.

    We use sophisticated data matching and analytic models to identify wealthy individuals and link them to associated entities. We then look at the group of entities as a whole. This group approach helps us to understand businesses better. It also enables us provide a more tailored experience, including focusing on specific entities within a group where necessary.

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    How we tailor our approach to you

    With this program, we're improving our understanding of your business and the environment you operate in. We use improved data and analytics to identify trends and priority risks specific to medium and emerging private groups.

    With this increased understanding, we can better tailor our approach and develop strategies to help you address and mitigate tax risks. We'll work with you by:

    • letting you know about issues that attract our attention
    • publishing public advice and guidance on issues facing by medium and emerging private groups
    • partnering through early engagement and pre-lodgment agreements for commercial deals to provide certainty on significant transactions and events
    • conducting risk-based reviews and audits, where appropriate.

    We'll focus our attention on engaging with:

    • larger or higher risk private groups and entities
    • private groups experiencing rapid growth, looking to expand offshore or where controlling individuals are transitioning to retirement.

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    Last modified: 01 Dec 2020QC 60505