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Tax governance and justified trust

Published on 01 Nov 17 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

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.

Author profile

Patrick Grob CTA
Patrick Grob, CTA, is a Partner in Deloitte’s Financial Services Tax practice and Queensland market leader in their Tax Management Consulting practice, specialising in tax strategies, tax risk management, tax technology solutions and tax transformation projects. Patrick brings a practical and commercial approach to working with clients. He has over 20 years of financial services experience working within corporate group tax teams in Australia and the UK. Prior to joining Deloitte in 2015, Patrick was Head of Tax at Suncorp, where he had responsibility for all tax compliance, reporting and advisory obligations across Australia and New Zealand. - Current at 01 November 2018
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