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  • Preparing for your Next 5,000 streamlined assurance review

    We may select you for a Next 5,000 streamlined assurance review. If this is the case, this is what we will typically ask you to provide at the start of your review.

    Topics and evidence

    The evidence you provide will help to give us confidence that:

    • you have paid the right amount of tax
    • there are no tax risks that we may need to follow up.

    The topics and evidence we typically cover in our request for information are consistent with the justified trust methodology. They are:

    • your group structure
    • any misalignment between your accounting and tax results is explainable and appropriate
    • the right amount of tax on profit from Australia-linked business is being recognised in Australia.
    • your tax governance and risk management
    • transactions, acquisitions and disposals
    • tax risks flagged to the market.

    We select significant transactions, events and activities that affect recent years for review. We aim to give you certainty on those issues. In some cases, we will ask you to provide additional information. Generally, we will not ask you about all the topics listed here.

    Find out about:

    See also:

    Voluntary disclosure

    Before receiving the request for information, we encourage you to review your records and recent significant transactions or business events and correct any mistakes by making a voluntary disclosure.

    You may wish to contact your adviser and discuss any tax risks you've identified when revising your records. You can make a voluntary disclosure at any time during a streamlined assurance review.

    Find out about:

    Last modified: 10 Dec 2020QC 63760