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Notes Online Home 2022 Tax Schools Day 2 Which taxpayers are under the ATO’s audit spotlight in 2022?
ATO audit assault continues on the cash economy in 2022
In this section of the seminar notes we explore how the ATO continues and audit assault on the cash ecomony in 2022. In more detail:
- ATO increasingly using default assessments on taxpayers operating in the cash economy
- ATO obtains important victory in relation to default assessments based on the asset betterment method
- ATO suffers a setback in relation to assessments issued on the basis of the asset betterment method
- Summary table highlights key factors to consider when challenging an asset betterment assessment