Preparing for ATO’s Next 5,000 compliance program for private groups

What the Next 5,000 Program means for your private business and how to respond with confidence

What is the ATO's Next 5,000 Program?

Following the recent ‘Top 500’ compliance program for Private Groups, the Australian Taxation Office (ATO) has commenced a new compliance program focusing on the ‘Next 5000’ private groups in Australia.

Under this program, the ATO will be undertaking a ‘Streamlined Assurance Review’ of about 5,000 private groups controlled by high wealth individuals, referred to as the High Wealth Private Groups. 

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What is the ATO looking to achieve?

The ATO’s intention for this program is to provide high wealth private groups, the ATO and the wider community with confidence that groups in this program are paying the right amount of tax in respect of the group’s significant activities, events and transactions, through a process that it refers to as ‘justified trust’.

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What can you do to be prepared for the ATO’s Next 5,000 program?

We recommend that high wealth private groups that have not yet been contacted by the ATO prepare early and take steps to ensure that they are well placed to respond to these reviews in a manner that provides comfort, and enhances their relationship with the ATO.

Our experience from similar reviews for large private, public and international groups suggests that taxpayers that prepare early for these reviews achieve better outcomes.

Adverse outcomes from these reviews can lead to ATO audits as well as additional scrutiny going forward, both of which can be stressful and time-consuming. 

Our Private Business and Tax Controversy specialists will work together to support you. Applying their technical expertise and experience from working with the ATO on previous programs including the Top 500 private groups and Top 1,000 public companies. Get peace of mind knowing that you are supported by a team built around you.

Contact us

Michael Dean

Michael Dean

Partner, Private Clients, PwC Australia

Tel: +61 4 0204 1451

Hayden Scott

Hayden Scott

Tax Controversy Leader, PwC Australia

Tel: +61 7 3257 8678

Samantha Vidler

Samantha Vidler

Partner, Private Clients, Brisbane, PwC Australia

Tel: +61 7 3257 8813

Amy Etherton

Amy Etherton

Partner, Private Clients, Newcastle, PwC Australia

Tel: +61 2 4925 1175

Rohit Raghavan

Rohit Raghavan

Partner, PwC Australia

Tel: +61 8 9238 3023

Martina Crowley

Martina Crowley

Private Clients Business Leader, PwC Australia

Tel: +61 (3) 8603 1450

Bruce Ellis

Bruce Ellis

Partner, Private Clients, PwC Australia

Tel: +61 (3) 8603 3303

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Contact us

Martina Crowley

Private Clients Business Leader, PwC Australia

Tel: +61 (3) 8603 1450

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