Commissioner’s speech highlights ATO’s focus areas

By WSC Group | Created on April 27, 2018
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Recently, the Commissioner of Taxation highlighted the areas in which the ATO has recently increased its focus, including:

 undeclared income;

 individuals unexplained wealth or lifestyle;

 incorrectly claimed private expenses;

 unpaid superannuation guarantee; and

 cash-only businesses and those with low usage of merchant banking facilities, with black economy visits to over 2,600 businesses across 8 locations in 2017.

The Commissioner also highlighted ongoing ATO concern with respect to the predicted work-related expense claim gap', which (at least by the ATO’s estimates) could amount to being greater than the large corporate tax gap of $2.5 billion of lost revenue.

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