The Australian Taxation Office values transparency the most and makes sure it stays the part of its commitment to taxpayers. ATO is focused on building trust and confidence in the tax and super systems and keep’s a hawk eye on the individual behaviours, characteristics and tax issues of privately owned companies and wealthy groups.

Any unpaid liabilities, unpaid taxes, and false claims are sure to grab the ATO’s attention, including:

• Taxpayers who avoid or delay paying taxes by not lodging their tax returns when required
• Taxpayers failing to report all of their income, have undeclared or disguised income
• Taxpayers who provide incomplete information or fail to disclose their foreign entities
• Taxpayers incorrectly claiming tax exemptions, treaty relief, and transfer pricing benefits
• Taxpayers mischaracterising transactions or incorrectly calculating the annual turnover

Behaviours And Characteristics That Attract ATO

ATO exclaims that it publishes information on the behaviours, characteristics and tax issues to guide the taxpayers in doing the right thing and help them stay transparent in their dealing with the taxation office.

• Low Tax Or Economic Performance
• Low Transparency Of Tax Affairs
• One-off Or Unusual Transactions
• Aggressive Tax Planning
• Inconsistent Tax Outcomes
• Not Complying With Tax Law
• Accessing Business Assets For Private Use

How Does ATO Addresses Your Tax Concerns?

If you have any concerns about your tax or super position:

• Engage with the Australian Taxation Office for advice about a complex transaction
• Get advice to correct a mistake by requesting an amendment or making a disclosure

If you know or suspected phoenix, tax evasion or shadow economy behaviour:

• complete the tip-off form available on the ATO app and with registered tax consultants
• make a call on the Shadow Economy hotline number

No matter, what your concerns are, they’ll surely be handled with confidentially, and tip-offs can be made anonymously. To know more about penalties and tax obligations that can attract the ATO towards you, get in touch with our tax accountants at KPG Taxation.