Latest findings
We have completed 1,525 assurance reviews on 1,183 taxpayers for income tax across the Top 1,000 income tax performance program and the Top 1,000 combined assurance program. Within the combined assurance program, we have completed second reviews for 343 taxpayers.
As a result of this income tax related work:
- High levels of assurance that the right amount of tax has been paid: We have seen high levels of assurance be maintained or improved, with 24% of taxpayers reaching high assurance in their last review, and 86% of taxpayers achieving high or medium assurance in their most recent review.
- Continual improvements in compliance and tax governance: We continue to see positive improvements in the outcomes of our reviews. In the reviews conducted in 2024, 90% achieved overall high or medium assurance, just 9% achieved overall low assurance. 59% reached stage 2 or 3 for tax risk management and governance.
- We detect and escalate issues of concern for further investigation: We continue to escalate cases for further review or audit due to specific concerns with identified positions. In the reviews conducted in 2024, 9% were escalated for further action by the ATO. This is a slight reduction in the number escalated since the start of the combined assurance review program, whereby 12% have progressed for further review or audit.
- High levels of tax assured: We have assured around $79.1 billion in income tax paid by Top 1,000 taxpayers since we started assurance reviews in 2016.
Additionally, we have now completed 735 reviews for GST across our various programs, with 395 receiving an assurance rating, 59 of which for a second time.
Based on the outcomes of these GST reviews:
- High levels of assurance that that right amount of GST has been paid: We have obtained high assurance that, at their last review, 37% of taxpayers have paid the right amount of GST for the tax years reviewed, with 96% of taxpayers having achieved high or medium assurance that they have paid the correct amount of GST.
- Significant improvements in GST governance: In 2024 we have seen a significant improvement in the tax risk management and governance framework outcomes for GST, with 50% of the taxpayers reviewed in 2024 achieving a stage 2 or 3 rating. This shift correlates to an improvement in overall assurance ratings for GST for these taxpayers, with 45% of taxpayers reviewed in 2024 achieving an overall high assurance rating.
- Taxpayers should be continually reviewing their GST compliance: We continue to see 40% of taxpayers making a voluntary disclosure once notified of a review, and before receiving our recommendations. This indicates that taxpayers are undertaking self-reviews when notified of the combined assurance review, rather than as part of a regular governance process.
- We detect and escalate issues of concern for further investigation: In the reviews conducted in 2024, we identified 2% with GST issues that required further ATO action.