ATO Compliance Focus – Individuals
The ATO has published its “Compliance in focus 2013-14” document. This document sets out what the ATO is doing to manage the risks to and maintain the integrity of Australia’s taxation and superannuation systems for the next 12 months.
In relation to individuals, the ATO will be focusing on the following:
- individuals who fail to declare income or make incorrect claims for deductions and benefits;
- the tax risks associated with the use of complex business structures;
- correct reporting of taxable income by wealthy individuals; and
- participation in tax planning schemes.
The ATO will also be focusing on ensuring correct reporting by individuals of:
- private health insurance rebates;
- flood levy exemptions;
- taxable government grants and payments; and
- certain payments to contractors in the building and construction industry.
This year, incorrect claims for work-related expensesmade individuals in the following occupations will be a focus for the ATO:
- building and construction labourers, construction supervisors and project managers; and
- sales and marketing managers.