NEWS: Commissioner’s speech highlights ATO’s focus areas

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Recently, the Commissioner of Taxation highlighted the areas in which the ATO has recently increased its focus, including: 

-    undeclared income;

-    individuals' unexplained wealth or lifestyle;

-    incorrectly claimed private expenses;

-    unpaid superannuation guarantee; and

-    cash-only businesses and those with low usage of merchant banking facilities, with black economy visits to over 2,600 businesses across 8 locations in 2017.

The Commissioner also highlighted ongoing ATO concern with respect to the predicted 'work-related expense claim gap', which (at least by the ATO’s estimates) could amount to being greater than the 'large corporate tax gap' of $2.5 billion of lost revenue. 

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