On 15 July 2013, the Second Commissioner of Compliance, Bruce
Quigley released the ATO's Compliance in Focus 2013-14 report
("the Report"). The report highlights the key focus areas
for the Australian Tax Office ("ATO") in managing the
risks and maintaining the integrity of Australia's taxation and
superannuation system for the 2014 financial year.
The report can be located
here
The four main areas of focus for the ATO for 2013-2014 will
be:
- Tax crime;
- Misuse of Trusts;
- Profit Shifting; and
- Data Matching (Data and information-matching capabilities have
increased by 40 million to 640 million transactions for the 2013-14
year).
Last year's compliance program was a significant revenue
generator for the ATO and as at May 2013 had raised over $11
billion in liabilities from a total of 734,685 activities.
