ATO Audit Activity is on the Increase

The ATO is significantly increasing its audit activity in a range of areas, with increased funding attributed to the ATO in the last budget.

 

Data-matching and Analytics are being utilised to focus on Superannuation Guarantee, PAYG Withholding and specific deductions, just to name a few areas. The ATO also has a ‘Random Enquiry’ program, to ensure increased review of entities and individuals.

 

Should you be audited by the ATO, even if no adjustments are required, you could still be left with considerable professional fees. It is for this reason, we offer our Audit Shield service which covers these (up to predetermined limits).

 

Please click below for further information and we highly encourage you to consider undertaking this insurance.

 

 

If we can assist with any information on this matter or if you have any questions regarding this email, please do not hesitate to contact our office on (02) 8543 6800.