We are here to help prepare you for the ATO’s reviews. Enquire now to speak to one of our experts.

In recent years, we have seen a shift in regulators, like the Australian Tax Office (ATO), in placing a greater onus on businesses in managing their tax governance.

Following the ATO’s release of the Tax Risk Management and Governance review guide, having a robust income tax and GST risk management and governance framework is of increasing importance. The ATO has been running a Top 1,000 Taxpayers programme, whereby every taxpayer with turnover of $250 million and above is being subject to an ATO Streamlined Tax Assurance Review (STAR).

As a recent development, the ATO have advised that they are now extending this program to commence similar reviews of companies in the turnover band of $50m to $250m. To prepare for the ATO’s review, an extensive examination of internal processes will be required.

Through an ATO Readiness and Tax Governance Review, we can help you get complete view of your overall tax position. The objective of this ATO Readiness Review is to prepare you for a future Streamlined Tax Assurance Review (STAR) and Information Systems Risk Assessment (ISRA). The next round of taxpayer clients are being updated now and we can expect further taxpayers to be notified of such reviews in the months leading up to calendar year-end.