Australia's wealthy on the tax office hit list

Pedro Gonçalves
clock • 2 min read

The Australian Taxation Office (ATO) has launched a four-year investigation of the country's 500 wealthiest high wealth private groups (HWPGs). HPWGs are Australian resident private groups who, along with their associated entities, control over A$500m of net assets, or have businesses with a gross annual turnover of A$350m. In his next push to combat tax avoidance and strengthen tax governance, the Commissioner of Taxation is allocating significant resources and will be giving close attention to the business activities of HWPGs. During the campaign, the Commissioner of Taxation's...

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