Tax risk management seminar paper

Published on 05 Nov 04 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This paper looks at how to deal with tax risk - looking at matters in respect of corporate governance, managing resources and relationships and staying in a job, from the perspective of internal tax managers. Including:

• Position of Directors and other Officers
• Position of internal tax managers and staff
• Position of external Tax Advisors
• Getting the most out of the relationship between internal and external advisors
• Getting the most out of the relationship between internal advisors and the ATO relationship managers
• Dealing with Treasury (law change)
• Getting the most out of the relationship between internal advisors and external auditors
• Getting the most out of the relationship between internal advisors and internal auditors - a report card
• Importance of a Corporate Values System
• Role of voluntary disclosure
• What tax issues should be referred to the board?
• What tax issues should be referred to external advisers - accountants, solicitors, barristers, valuers?
• How do you advise the board?
• What do you really need?
• What is really at stake?

Author profile

Andrew Mills CTA-Life

Andrew is the Director, Tax Policy and Technical at the Tax Institute, a Senior Fellow at Melbourne University Law School and a member of the Tax and Transfer Policy Institute Advisory Board. Previously, Andrew was the Second Commissioner, Law Design & Practice, at the Australian Taxation Office from 2013 - 2019. Andrew has 40 years’ experience in taxation, including periods in the ATO, commerce and the tax profession. Andrew was a Director at Greenwoods & Freehills for more than 20 years and managing director of the firm from 2006 to 2011. Andrew was President of The Tax Institute in 2006–2007 and is a former Governor of the Taxation Research Foundation. In practice, Andrew was an active participant and representative of a number of industry bodies and a lecturer in the taxation in the Masters program at Sydney Law School. Andrew holds a Bachelor of Business, a Master of Laws and a Graduate Diploma in Tax Law. Andrew is a Chartered Taxation Adviser (Life), a member of the Australian Executive Committee of the International Fiscal Association and a graduate of the Australian Institute of Company Directors. - Current at 03 November 2020

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