ATO Publishes Update Guidance on What Attracts Its Attention

The Australian Taxation Office (ATO) has published updated guidance on What attracts our attention, explaining the behaviors, characteristics, and tax issues that attract the ATO's attention.

This includes a broad list of behaviors and characteristics of privately owned and wealthy groups that may attract the ATO's attention:

• Tax or economic performance not comparable to similar businesses;
• Low transparency of your tax affairs;
• Adviser influence on your tax affairs;
• Large, one-off or unus…