The ATO is a world leader in combating tax avoidance. The Tax Avoidance Taskforce bolsters our efforts to ensure multinational enterprises, large public and private businesses (and associated individuals) pay the right amount of tax in Australia.
Through our justified trust program, we assure the tax compliance of large corporate groups and privately owned and wealthy groups. Where we identify areas of concern, these are escalated for further investigation by our compliance teams. Refer to Tax performance programs for privately owned and wealthy groups.
Justified trust builds and maintains community confidence that taxpayers are paying the right amount of tax. It also allows us to focus our resources in the right areas. As the corporate tax transparency population has some of our largest taxpayers, we invest significant resources to ensure they are paying the correct amount of tax.
Our Population-wide approaches to preventing non-compliance explains how we monitor large corporates and the large amount of resources applied to educating and preventing non-compliance.
We engage with the top 1,100 public and multinational businesses and superannuation funds, and the top 500 privately owned and wealthy groups to obtain assurance that these businesses pay the correct amount of tax. Refer to our findings reports:
Our Tax and corporate Australia report, explains in more detail how we maintain assurance over large corporate taxpayers.
This is the seventh annual report on corporate tax transparency, informing public debate about the corporate tax system.