- Looking for lifestyle and spending habits that outweigh business income;
- Comparing businesses against the small business benchmarks;
- Reviewing third party information such as bank transactions and comparing it to what businesses have reported; and
- Investigating information provided by employees and the community
If a mistake has been made regarding the disclosure of business income or expense, remedy actions must be taken immediately by making a voluntary disclosure or contacting a tax advisor for assistance.
Hefty penalties may be imposed if a business is found not to comply with the Tax Office reporting requirements.
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