[1476] ATO releases its compliance program for 2003-04.

Australasian Business Intelligence, August, 2003

Aug 29, 2003 (Weekly Tax Bulletin - ABIX via COMTEX)

The Australian Taxation Office's (ATO) 2003-04 compliance program has been issued. The ATO has hired 850 new staff to work on the program, which will concentrate on the cash economy. The ATO will contact about 70,000 businesses in industries prone to cash economy operations, such as taxi driving and building. It will also focus on work expense claims, which rose by around 12 per cent in 2002-03. The ATO will assess compliance at 10 per cent of businesses with a yearly turnover of under $A2 million. It will also audit 50 high net worth individuals and monitor superannuation compliance.

Publication Date: 22 August 2003

AUSTRALIAN TAXATION OFFICE 

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