ATO second commissioner Jennie Granger has given an ‘early bird’ view of some of the areas that the ATO’s Compliance Program 2008 – 2009 will be addressing, and an overview of the ATO’s tax time focus for individuals and small business. She said:
· for tax time this year, the ATO will be paying particular attention to:
o investors, particularly rental properties, dividends and interest, sale of investments, avoiding dodgy tax schemes, saving for retirement
o salary packages of executives and directors – the ATO will expand its review of highly paid executives and directors, generally people with income over $1 million
o employees and their work expense claims – the ATO will look at the growth in work expense claims particularly by nurses, medical practitioners and chefs
· the ATO will also be expanding its coverage of income tax issues this year. This includes: sale of assets and investments, foreign source income, and employer obligations (including superannuation).