- ATO initiatives for Top 100 and Top 1,000 taxpayers are positive steps towards rewarding those who have improved tax risk management
- Changes may help tax and finance teams make a business case for resources to enhance tax governance documentation
- ATO findings reports provide valuable insights on future of tax governance for Top 100 and Top 1,000 taxpayers
- Taxpayers should periodically review GST compliance processes and identify errors regularly
- Controls for data and managerial level controls need to meet ATO expectations
- More taxpayers are using the GST analytical tool, which is good governance practice
- GST controls testing should focus on fundamental controls and common justified trust controls from a GST perspective.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
