In the March 2022 Budget, the Tax Avoidance Taskforce (Taskforce) was given additional funding to June 2025, which is estimated to raise $2.1 billion in additional revenue over the forward estimates. In this session we will take stock of how far the Taskforce has come and explore what the next steps are. One of the key focus areas of the Taskforce is base erosion and international profit shifting with compliance and assurance programs targeted at the Top 100 and Top 1000 public and multinational businesses and the Top 500 and Next 5000 high wealth privately owned groups. This presentation provides insights into the Taskforce's activities, including:
- Outcomes achieved in PGI and Private Wealth since the establishment of the Taskforce
- Transfer pricing related disclosures in the ATO's Reportable Tax Position findings report
- ATO's use of data analytics to identify potential transfer pricing risks
- ATO's review of its APA program