Tax performance programs for privately owned and wealthy groups

On 12/12/2024, the Australian Taxation Office (ATO) issued an update regarding tax performance programs for privately owned and wealthy groups. The ATO views privately owned and wealthy groups as complex entities with financial and legal arrangements that require tailored approaches to address tax risks. Three key segments are targeted: Top 500, Next 5,000, and Medium and emerging private groups, each with distinct tax performance programs designed to support willing participation in the tax system and address deliberate tax avoidance.