Budget 2008-09: Compliance Matters

01.10.08

Date matching and security industry

The Tax Office has announced that it will request and collect names, addresses, business and licence details of entities within the security industry from the relevant state departments.

The data collected will be electronically matched with its data holdings to identify non-compliance with tax obligations.

According to the Tax Office, the data-matching program will focus on security firms and their sub-contractors.

Partnership and trust distributions

The Tax Office has advised that it will be reviewing distributions from partnerships and trusts to the respective partner and beneficiary returns for the years ended 30 June 2004 to 30 June 2007.

The Tax Office will send letters to tax agents where there are discrepancies in the distributions. Further, the Tax Office says that if a voluntary disclosure is made, it will result in a reduction or waiving of any penalties provided an amendment is lodged within 28 days of the date of the letter.