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ARTICLE · 21 SEPTEMBER 2024

Preparing for ATO review in an ever-evolving tax landscape

Corrs Chambers Westgarth
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Taxpayers should establish and maintain robust internal tax governance frameworks.

AustraliaTax
Cameron Blackwood
Cameron Blackwood
Luke Imbriano
Luke Imbriano
Craig Boyle
Craig Boyle
Julia Bolodurina
Julia Bolodurina
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Focusing on tax through the lens of governance, and not just the tax returns lodged and positions adopted, is not a new concept. Both the Federal Government and the Australian Taxation Office (ATO) have placed an increased emphasis on tax governance and evidence, tax reporting and the regulation of tax practitioners in recent years, and this is only set to continue.

Together with a number of recent tax developments, trends in case law and the ever-increasing regulatory scrutiny of corporate taxpayers, some form of ATO review should be expected. Taxpayers should establish and maintain robust internal tax governance frameworks which appropriately manage risks and ensure positions are documented with supporting objective and contemporaneous evidence.

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