Regulators are not going away any time soon and they are constantly able to access more of your business information from more sources than ever before. Compliance failures can be costly, either in the case where you pay too much tax or in the case where you underpay and are then penalised by the regulator. To minimise the chance of paying too much or too little in the way of tax, take control of your tax lodgments and compliance activities. Generally, these activities can be streamlined with the correct approach.