• re-engage non-lodgers
• data match individual tax returns against professional firms’ data
• assess compliance with PCG 2021/4.

The ATO apply risk modelling of partnership distributions to assess compliance. Their preliminary analysis of professional firms within the privately owned and wealthy group population has revealed that partners’ lodgment compliance is lower than expected. Their analysis has revealed examples of distributions being:

• reported at incorrect labels
• only partially reported
• omitted in full.

Their activity, during 2023–24, has raised $29.8 million in liabilities.

The point out that “It’s very important for all privately owned and wealthy group advisers to keep their personal tax obligations up to date, in line with community expectations and taxation laws. In addition, for advisers who are registered with the Tax Practitioners Board, it’s a condition of their ongoing registration that they have compliant personal tax affairs.”

The message is clear. Get your act together or expect a visit.