Source: Taxation In Australia Journal Article
Published Date: 1 Nov 2017
The ATO's justified trust approach involves the A TO obtaining assurance that the correct tax is being paid by large taxpayers. The approach is being implemented through a number of different programs, such as the key taxpayer engagement approach and the Top 1,000 Tax Performance Program. A key part of the justified trust appr oach is the ATO obtaining an understanding of a taxpayer's governance and tax risk management framework in practice. This article will provide: an explanation by the ATO of the justified trust approach and how it is being put into action across the different programs; an explanation from the ATO of how the ATO governance framework is practically used within reviews; and practical experiences from advisers and corporates about how large business can implement the governance principles in practice.
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