The ATO has provided us with the following update on GST audits relevant to the Public Groups & International (PGI) market:
The PGI teams are starting their GST Top 1000 audit program in August and the ATO has decided to start its programs progressively over time.
The ATO will be commencing next action cases and around 30 new Top 1000 GST audit reviews during August. At this stage, the ATO does not anticipate commencing new top 1,000 streamlined audit reviews until October.
The ATO will commence contacting impacted taxpayers this week to notify them that they have been selected for review.
However, the ATO says “it will continue to be empathetic to our clients’ needs, understanding the continuing adverse impacts of COVID on their business operations. We will work with them to adapt the timing of the review to their circumstances.”
If you require help in this area, please contact our team of experienced accountants by clicking here to submit an online inquiry form, calling us on 1300 QUINNS or alternatively, (02) 9223 9166 to arrange a teleconference or appointment.