Speaking to the Australian media this week, Tax Commissioner, Michael Carmody revealed that the Australian Tax Office (ATO) expects to collect in the region of AU$3 billion from large company audits.
Mr Carmody told the Australian Financial Review on Tuesday that the ATO is also examining several new tax structures discovered as part of its current audit programme.
One example given of the types of arrangements being studied by the tax authority was that of deals put in place to take advantage of one time gains from moving into consolidation regimes (which mean that corporate groups can act as a single entity for tax purposes).
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