New tax governance guide for privately owned groups
Are you planning to start a business, transition your business to your children, or expand into international markets?
Effective tax governance can help you manage the tax aspects of key business events and make sure your business gets the right tax outcome.
We’ve been working with businesses, tax advisors and agents to design a guide to help private groups with tax governance.
Why do you need tax governance?
Successful businesses have good governance practices. Good governance benefits businesses by supporting planning and decision making, managing commercial risks and building stakeholder confidence.
Effective tax governance potentially saves you time, money and effort, by leading to appropriate tax outcomes. It provides certainty for your business and seamless interactions with us, and can have a positive influence on your business’s tax profile with the ATO.
Our new tax governance guide provides practical guidance and examples on common business events to help your business get things right.
The tax governance guide can be tailored to your type of business and key events in your business's lifecycle.
You and your tax advisors can use the guide to:
- develop an effective tax governance framework as part of your corporate governance
- identify how you can make improvements to your existing governance frameworks
- understand how to demonstrate your tax governance is effective.
For more information check out the online guide including our video at www.ato.gov.au/taxgovernance
The new tax governance guide for privately owned groups provides guidance and examples on effective tax governance for common business events.