The Australian Taxation Office (ATO) has recently released the 2024 editions of the Top 500 and Next 5,000 tax performance programs findings reports.

Part of the Tax Avoidance Taskforce’s initiatives, the Top 500 and Next 5,000 tax performance programs seek to engage Australia’s largest privately owned groups based on the principles of justified trust and provide assurance that they are paying the right amount of tax.

The Top 500 private groups program includes private groups:

  • with over $250 million turnover, regardless of net asset value
  • with over $500 million net assets, regardless of turnover
  • with over $100 million turnover and over $250 million in net assets
  • that are market leaders or groups of specific interest.

Meanwhile, the Next 5000 program targets those with wealth of more than $50 million.

Top 500 tax performance program 2024 findings report

Next 5,000 tax performance program 2024 findings report

 

Comments are closed.