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  • Maintaining an ACA

    There is no set period for the operation of an ACA, but we generally have a cycle of three years in a typical arrangement.

    The ACA is managed along a financial year basis for taxes requiring an annual return to be lodged, for example income tax and FBT. Other taxes, for example GST, are managed on a periodic basis usually 12 months from the date of entering into the ACA. We will tailor the arrangement for you.

    During the term of the ACA we expect you to:

    • make ongoing disclosures
    • maintain your governance processes and notify us of any changes
    • work with us to resolve risks, in an open and transparent manner
    • provide adequate resources to maintain the ACA
    • maintain your lodgment obligations
    • make time for the annual discussion with us.

    What you can expect to see during the ACA

    During the life of the arrangement, you can expect to see:

    • joint assessments and workshopping of identified tax risks as they happen
    • agreement on mitigation strategies before issues or disputes arise
    • an annual review of the effectiveness of your tax compliance assurance processes
    • disclosure of major transactions or tax positions that you consider have a level of uncertainty
    • a review of the arrangement to ensure contemporary practices
    • a sign-off letter for the year, effectively closing off any further ATO reviews to relevant returns and activity statements – this will be subject to whether there are any unresolved issues after an annual review has been completed.

    What you can expect from us

    You can expect us to:

    • work with you in an open, honest and transparent manner
    • progress matters you raise with us within agreed timeframes
    • maintain an open dialogue and keep you informed about the progress of issues you have raised
    • make contact with you in order to understand the facts and discuss any concerns we have
    • provide you with a central point of contact and access to relevant decision makers
    • approach you about risks that we become aware of.
      Last modified: 08 Nov 2018QC 21312