The Australian Taxation Office (ATO) has published updated guidance on What attracts our attention, explaining the behaviors, characteristics, and tax issues that attract the ATO's attention.
This includes a broad list of behaviors and characteristics of privately owned and wealthy groups that may attract the ATO's attention:
- Tax or economic performance not comparable to similar businesses;
- Low transparency of your tax affairs;
- Adviser influence on your tax affairs;
- Large, one-off or unus…