As a privately owned and wealthy group you play an important role in the Australian economy, as well as the tax and super systems. Your participation in the tax and super systems helps build community confidence that the largest and wealthiest taxpayers are paying the right amount of tax in Australia.
We've seen demonstrated sentiment from the Australian community that they expect multinationals, large businesses, and Australia's wealthiest taxpayers (and the entities they control) to pay the right amount of tax. They also expect us to continue to focus on ensuring a level playing field.
We know that private groups can have complex tax and super affairs that can increase the risk of mistakes, and that most private groups seek to willingly comply and engage transparently with us to meet their tax obligations. Our tax performance programs are designed to support privately owned and wealthy groups get it right, but also take action to address more deliberate tax avoidance activities.
Stay ahead with our areas of focus for 2024–25
As part of our ongoing commitment to transparency, we've launched a new Areas of focus 2024–25 page. It highlights our primary focus areas and outlines where we're investing our efforts to provide education and guidance, while engaging with private groups to help them understand their obligations and get things right.
We'll be updating this information based on intelligence received and the insights from our work, so we encourage you to check it regularly to stay informed about our evolving priorities and take proactive steps to mitigate any risks before they arise.
What attracts our attention
We've also recently restructured and refreshed our broader What attracts our attention content to make it easier to navigate. It provides you with a wealth of information about tax issues that may attract our attention. For example:
- Stay informed with our newly-released International transactions section, which highlights our latest focus on cross-border activities and transactions involving private groups.
- Explore our Private Wealth Adviser Program – this new resource outlines how we collaborate with professional firms and advisers within private groups to achieve tax compliance.
Keep up to date
We have tailored communication channels for medium, large and multinational businesses, to keep you up to date with updates and changes you need to know.
Read more articles in our online Business bulletins newsroom.
Subscribe to our free:
- fortnightly Business bulletins email newsletterExternal Link
- email notifications about new and updated information on our website – you can choose to receive updates relevant to your situation. Choose the 'Business and organisations' category to ensure your subscription includes notifications for more Business bulletins newsroom articles like this one.