The Australian Tax Office (ATO) has provided a concise summary of its framework by which four broad risk categories are categorized for each type of tax (income tax, GST, excise). This classification framework will be used to provide their service focus.
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The Application for approval to defer GST on imported goods (NAT 75136) is available in Portable Document Format (PDF).
This includes relieving qualifying taxpayers of the obligation to hold a tax invoice for creditable acquisitions.
New advice under development: The draft Schedule will add to the practical guidance in PCG 2019/8 by setting out the ATO’s proposed framework for how assessing the risk associated with apportionment methods used to...