Tax cheat crackdown

January 13, 2014

The Australian Crime Commission (ACC) and the ATO are working together to identify and catch tax cheats.

The $2 million contract commenced on 26 August 2013 and will be in force for two years.

The ACC will supply the ATO with static and mobile surveillance in an effort to catch individuals who are not fulfilling their tax obligations.

This new tax surveillance team will be focusing on key areas of tax crime that were identified as hotspots by the Tax Office.

These key areas can expect to be scrutinised under the new surveillance arrangement:

  • international tax evasion, and in particular the people who advise cheats,
  • refund fraud; people who dishonestly claim refunds, rebates or offsets that they are not entitled to,
  • the cash economy; when people do not declare the cash they receive as income,
  • fraudulent activity; where a company goes into liquidationand leave its debts behind while the assets are shifted into a new entity that begins trading again,
  • tax avoidance scheme; an array of arrangements that involve the use of a trust to avoid tax and super laws.

If you are concerned about the content of this article or wish to discuss the matter with a professional, please do not hesitate to contact Leenane Templeton Chartered Accountants and Business Advisors.

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