Internal Control & Tax Governance – Surviving ATO Scrutiny

Do you know what the ATO expects from larger private groups in managing their tax risks – to help clients survive the current ATO review programs?

The ATO is continuing to roll out two programs of reviews for larger private groups: the ‘Top 500’ and the ‘Next 5000’, as part of the Tax Avoidance Taskforce.

One of the key elements that the ATO are reviewing is how well those larger private groups manage their tax risks, focusing on their Tax Governance and Internal Control framework – and how well that framework works in practice.

This session is intended to give tax practitioners, accountants and lawyers an improved understanding of the ATO’s expectations on tax governance and internal control systems, covering seven key principles:

• Principle 1: Accountable management and oversight
• Principle 2: Recognise tax risks
• Principle 3: Seek advice
• Principle 4: Integrity in reporting
• Principle 5: Professional and productive working relationship
• Principle 6: Time lodgements and payments
• Principle 7: Ethical and responsible behaviour

The ATO’s espoused purpose in conducting such reviews is to achieve ‘Justified Trust’ in the relevant larger private group. Using case studies, the session will show how the ATO looks at whether such a framework exists, is designed effectively and operates effectively [in practice]. Using common tax risks for private groups, the session will explore how the ATO will then evaluate the group’s framework operated in dealing with those risks

Learning Outcomes:

Participants will gain an improved understanding of:

• What the ATO expects in terms of private group tax governance
• How private groups can better build and document their framework
• How to sell the development of such a framework to private group controllers
• What to do if the ATO finds gaps in the private group’s framework
• Using the Tax Governance Framework as a tool to better manage relationships with the ATO, in practice

Suited to:

Accountants, tax practitioners, BAS agents, lawyers and other practitioners serving small businesses, private groups and wealthy individuals.

You will also be provided with: 

• Access to watch the Live Webinar 
• Opportunities to ask real time questions to the presenter/s
• Poll questions to test your knowledge 
• Access to On Demand recording, which can be viewed multiple times, for as long as required 
• Presenters contact details for follow up questions 
• CPD Quiz (for On Demand recordings)
• CPD Certificate 
• CPD Report – Logged automatically 
• PowerPoint Presentation
• Verbatim Transcript, with Searchability
• Supporting Documentation