An effective tax system supports the social benefits we all enjoy. The key to an effective tax system is a high level of willing participation. This is built on the community having confidence that all taxpayers are paying the right amount of tax and in us as administrators.
We share our tax system insights with you to improve awareness and encourage voluntary compliance.
The community is especially concerned with the income tax compliance of large corporate groups. This population is made up of 1,989 groups. Each has a turnover of more than $250 million and makes a significant contribution to our tax system and the Australian economy.
Based on our detailed knowledge of the system, most large corporate groups pay the right amount of tax. There will always be some who deliberately avoid their tax obligations. Our message to businesses operating in Australia is clear: you must pay the right amount of tax on the profits you earn here.
We take our responsibility to the people of Australia seriously. Here you can find out how we are:
- improving the system for those who want to comply
- taking firm action against those who choose not to.
We hope it provides you with an increased understanding of how Australia's tax system is operating for the largest corporations.