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Tax risk and corporate governance: The ATO's growing interest in taxpayers' self risk management paper

Published on 30 Oct 12 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

In 2010, the ATO announced that it would be placing increasing importance on taxpayers’ self-management and mitigation of their tax risks. This is otherwise known as good Tax Corporate Governance (TCG). This paper covers how to meet the ATO’s expectations for TCG and what to expect if the ATO reviews your risk management systems, including:

  • the ATO’s requirement for documented policies and procedures
  • creating or improving a TCG policy document – what does it look like and what would it include?
  • how to implement a robust TCG framework in your organisation
  • commercial and operational benefits an entity realises on implementation of a good tax risk management system
  • responsibilities for and interests in TCG for the Tax Manager, Tax Function and the Board
  • ATO review and audit of TCG – what to expect.

Author profiles:

Glenn WILLIAMS
Current at 09 November 2011 Click here to expand/collapse more articles by Glenn WILLIAMS.
 
Emily MARSDEN
Current at 27 May 2009 Click here to expand/collapse more articles by Emily MARSDEN.

 

This was presented at 2012 Corporate Tax Masterclass .

Get a 20% discount when you buy all the items from this event.

Individual sessions

BTWG and Australia in the Asian century

Author(s):  Grant WARDELL-JOHNSON

Materials from this session:






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