TAX Commissioner Michael D’Ascenzo has released the Compliance program 2010-11, outlining refund fraud, the cash economy, employer obligations, wealthy Australians and tax secrecy havens as some top priorities for the ATO in the coming year.
“This year, we will data match more than 500 million transactions to ensure taxpayers are declaring their income, including from bank accounts, investments, overseas transfers and property transactions,” Mr D’Ascenzo said.
“We will crack down on businesses using cash transactions to hide income and evade tax, using benchmarks for more than 100 industries and reviewing or auditing the activities of more than 26,000 micro businesses.
Mr D’Ascenzo said the compliance program had been guided by the ATO’s new strategic statement, which had a strong focus on encouraging and supporting taxpayers to do the right thing.
He said Australia has a strong culture of voluntary tax compliance and part of supporting honest taxpayers was taking firm action against those who do the wrong thing.
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