ATO catches 1200 tax and superannuation offenders
Almost 1200 people were prosecuted and convicted for tax and superannuation offences last year, according to figures released by the Australian Taxation Office (ATO).
The ATO figures reveal 48 people were prosecuted and convicted of serious tax crime offences.
Close to 1,150 people and 370 companies were charged with providing false and misleading information, failing to lodge a tax return or receiving a fee for preparing an income tax return when not being a registered tax agent.
Serious offenders received sentences ranging from three months to almost 10 years, with six of these convictions having occurred under Project Wickenby.
Tax Commissioner Michael D'Ascenzo said tax evaders were often caught by the sharing of information between government departments and other third parties.
"The ATO also undertakes risk profiling to identify people and businesses that may have not declared all their earnings or overinflate their deductions," D'Ascenzo said.
"We can see how personal and business claims compare to other tax payers; if alarms are raised the ATO investigates those claims and taxpayer records more closely," he added.
Recommended for you
High-net-worth advisers seeking to grow their businesses are likely to find alternatives to be a key part of the puzzle amid investor demand, according to Praemium’s head of private wealth.
The financial advice profession has lifted back above the 15,500 mark this week thanks to a double-digit net rise in adviser numbers, according to Wealth Data.
A closer watch on licensees that fall short on cyber security protections is among a dozen new enforcement priorities announced by the corporate regulator for 2025.
Research house Morningstar has welcomed a new director for manager research to cover Australian and New Zealand fund managers.
