Tax and super governance for departments and agencies
Introduction
A checklist tied to a sample risk assessment matrix has been developed to help boards, chief executives, chief financial officers and tax managers of Australian government departments and agencies take a methodical governance-based approach to meeting their tax and super obligations and receiving entitlements.
The information contained in this document will assist you in the completion of the checklist.
The information provides practical guidance and worked examples on a range of governance topics including:
structures
procedures
systems
skills
staff
support.
Using the guidance we provide is, of course, voluntary.
While most government organisations are exempt from income tax, most have a range of tax and super obligations that may include:
To meet your obligations as a taxpayer, you must be confident that you have accounting and control systems and processes that accurately deal with your tax and super obligations. These may include:
noticing issues that affect tax that come up in the ordinary course of your operations
having adequate procedures, including seeking advice, to deal with unusual or complex transactions
handling registration, lodgment and payment obligations accurately and on time.
If you manage your tax and super administration well, you generally:
increase your chances of complying with the law
completely and accurately capture transactions that affect tax
report and pay your tax and super obligations accurately and on time
process your forms and notices cost efficiently
deal with us effectively.
Where you find gaps or weaknesses in your approach to tax and super, the governance assessment checklist may help you improve your:
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