- Transitioning support for auto supply chain companies
- Innovation in Australia
- New FBT entertainment cap introduced
- New reporting obligations for multinational companies
- Unlocking super
- The truth behind business failure
- 2015 Distinguished Family Business of the Year
- Melbourne plan refresh: The 2050 metropolitan planning strategy
- New fees hurt developers’ bottom line
- Payroll Tax Rebate – Action before 23 November 2015
- New South Wales State Budget 2015-16
- Western Australian Real estate & construction update
- Victoria Real estate & construction update
- South Australia Real estate & construction update
- Queensland Real estate & construction update
- New South Wales Real estate & construction update
- State revenue offices and the ATO information sharing
- Redundant corporate entities?
- Streamlined process for new business applications
- Imported building materials under scrutiny
- Tightened lending rules threaten industry growth
- Any GST hike must be offset
- New PM appoints Minister for Cities
- Reforming Australia’s Federation and Tax System
- A message from our Global Head of Real Estate & Construction
- Adelaide CBD property outlook – Key considerations
- The deadline is looming for the Exploration Development Incentive
- Valuing Employee Share Schemes (ESS) – Impending Tax Changes
- Queensland State Budget 2015-16
- New restrictions on entertainment salary packaging
- NADA conference day three
- NADA conference day two
- Do you have the keys to NADA 2015? Day 1
- South Australian State Budget 2015-16
- 27 Pay Periods in 2015/16
- Corporate simplification and solvent liquidations
- Fringe Benefits – Hidden FBT and deemed dividend issues
- NSW Payroll Tax Rebate
- SuperStream compliance
- Should I maintain my SMSF?
- Art and collectables as alternative investments
- Tax alert: GST ruling published
- Western Australian State Budget 2015-16
- New funding opportunities for Australian food & beverage companies
- Super fund investment choice – What are the options?
- Nominating beneficiaries for your superannuation benefits
- Superannuation consolidation
- Victorian State Budget 2015/16
- Encouraging innovation in Australia’s Life Sciences and Biotechnology industries
- Fraud in focus: Fraud and corruption in Banking and Financial Services
- The Federal Government's Tax discussion paper released today
- Tax alert: Refunds of excess GST
- New Employee Share Scheme Bill Introduced
- SuperStream employer webinars
- Staying vigilant against fraud
- Tax Alert: Are you meeting your employment tax obligations?
- Tax alert: No change to R&D tax offset rates
- Act now to be ready for FATCA
- Tax alert: Changes to Employee Share Scheme Tax Laws
- Tax alert: GST & remote housing accommodation
The sharing of information between the Australian Taxation Office and various other government agencies continues to form the foundation for data matching and compliance programs.
The information provided by third parties to the Australian Taxation Office has long fuelled the tax office’s data matching programs. However, increasingly information exchanged between the tax office and other government agencies is providing the starting point for compliance programs at both a state and federal level.
The tax office uses the information it receives from the various state revenue offices to identify potential discrepancies such as whether the profit from the sale of a property has been included in the taxpayers’ tax return or whether the transaction has been properly reported for GST purposes.
At a state level, the offices of state revenue are using the information reported in income tax returns to identify eligibility for land tax exemptions, the first home benefit schemes and duty concessions.
Examples of the compliance activities we have seen recently include:
- the Queensland Office of State Revenue writing to a number of landowners who had incorrectly continued to claim an exemption for land tax after they had had a change in circumstance;
- the Australian Taxation Office data-matching land sales to capital gains reported in the taxpayers return.
Employers are also under scrutiny, with the information being reported in income tax returns and business activity statement being used to identify employers who may have failed to register for payroll tax or workcover, as well as to flag variances between the amounts reported to the various state offices and agencies.
Conversely, the tax office is using the information it has received to identify businesses that may be required to register for PAYG Withholding.