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  • Income tax risk profile

    Privately owned and wealthy groups want transparency about where they stand with their tax and super.

    For the largest privately owned and wealthy groups we have introduced an income tax profile that sets out our view of your level of risk. By sharing information about what we know about you, the profile provides you with an opportunity to self-correct and provide information.

    The profile will be issued to groups where specific tax issues have attracted our attention. The profile will be issued to the authorised tax agent of the group head through the tax agent portal as well as through engagement visits. At present the large number of privately owned and wealthy groups prevents us from providing every group head a profile. However, we will increasingly share what we know about you and our assessment of what attracts our attention.

    On this page:

    Information in the income tax profile

    The profile will contain the following information:

    It is important to note that the profile reflects our preliminary view of your group’s level of risk at a point in time. It does not indicate that you haven’t complied with your tax obligations.

    Who will receive the profile

    The profile is issued to private group heads that have been assessed as medium risk under our risk differentiation framework. We may issue the profile to the covered entity of the group head:

    • through the tax agent portal
    • as part of specialised tax assurance conversation and engagement visit
    • as part of our initial conversations with you in review and audit processes.
    Last modified: 29 Nov 2017QC 44837