We also give an update about our performance metrics under the Tax Avoidance Taskforce. This report builds on last year’s report by providing more detailed information about the performance of the Top 500 population against each of the 4 areas of justified trust. In response, we are adopting a firmer and more targeted compliance approach when dealing with this minority. The Top 500 program has also helped us identify a small number of Top 500 groups who do not see voluntary compliance as a priority. It also confirms their interest in maintaining a service orientated relationship with us that is based on mutual trust. The Top 500 clients' increasing level of engagement shows their interest in demonstrating to the community how they are contributing to the health of the tax and superannuation systems. Although they think we can be more timely with our assurance and justified trust decisions. This year our client survey data (current as of February 2022) shows that most Top 500 groups are choosing to embrace the service-based aspects of the Top 500 program model. risks we have identified as part of the tax assurance process.Top 500 population’s challenges with tax governance.concept of partial tax assurance as it applies to a Top 500 group.We also provided high-level observations about common issues we frequently see when engaging with a Top 500 group which require assurance, including the: We provided high-level findings from our engagements with the 403 Top 500 groups we had engaged with up until that point. In the June 2021 report we outlined how we applied the justified trust methodology in our tax assurance engagements.
This report provided an overview of the Top 500 program, a profile of the Top 500 population, and our observations about their approach towards engaging with the tax and superannuation systems. In June 2021 we published our first findings report (the June 2021 report) for the Top 500 tax performance program (the Top 500 program). what we have learned as the program has evolved.our own observations and insights to date.outline improvements and changes we are making to the program in response to.provide insights into some of the most common tax issues and risks that are present in the Top 500 population.highlight impediments that are preventing a significant number of Top 500 groups from achieving justified trust.communicate our observations and insights from our engagements with the Top 500 population and provide our findings in the context of the 4 areas of justified trust.provide an update to the community about the work that has been undertaken in the Top 500 program since the June 2021 report.The purpose of our current June 2022 report is to: What we have learned and the way forward.Monitoring and maintenance – post justified trust engagements.Performance against the justified trust framework.Top 500 population changes since the last report.
Our Top 500 findings report shares insights about the tax affairs of Australia's largest private groups. Findings report Top 500 tax performance program – June 2022
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