Income tax assurance notification

We understand that privately owned and wealthy groups want certainty about where you stand with your income tax obligations. To help provide certainty, we have introduced an income tax assurance notification that will be issued to you if your income tax risk is low, as assessed by our computer analytical models.

We have recently notified a significant number of groups – based on our current risk assessment – who we do not intend to make further enquiries with unless material information subsequently comes to light (for example, tax fraud). The intention is that this process will provide certainty for groups, and lead to reduced compliance activity over time.

This notifications process is now something that we will continue as our risk assessment updates.

Who will receive a notification

Your group is more likely to receive an income tax assurance notification in future years if you (and your associated entities):

  • lodge income tax returns on time
  • pay tax debts on time
  • are not subject to compliance activities
  • have lower risk economic and tax activities.
Last modified: 12 Nov 2015QC 44836