Learn How To Build Tax Governance The ATO Expects From Corporates

Tax

Your guide to using tax technology to meet the ATO’s justified trust requirements.

By Wolters Kluwer • 03 May 2022 • 2 minute read

The Australian Tax Office (ATO) continues to forge a new way of working with Australian corporate taxpayers to manage corporate tax risk and bolster community confidence in the corporate tax system via its justified trust program.

The ATO has established assurance reviews to apply its justified trust program to ensure that Australian corporates and large companies pay the right amount of company tax and have excellent corporate tax governance processes.

While there are many steps to take to prepare for an ATO assurance review, ensuring that your company understands the ATO's approach and review methodologies is essential.

The trusted corporate tax experts at Wolters Kluwer have written this detailed guide to show how corporate tax technology can support your company to meet controls detailed in the ATO's assurance reviews. These controls could potentially help meet the requirements of other tax jurisdictions too.

In this practical yet detailed guide, you'll understand what the ATO believes is best practice, so you can:

Develop or improve your tax governance and internal control framework to identify and manage tax risk.
Regularly test the robustness of the design of your framework policies and controls.
Learn how CCH Integrator, an award-winning global corporate tax compliance and reporting platform, can support your company's tax governance and internal control framework.

"Justified trust technology goals should include more than running the numbers. The ATO will expect organisations to explain and reconcile tax and finance data with a robust framework demonstrating how corporate tax decisions are not just an afterthought but a part of the company's decision making. "