• Benefits of effective tax governance

    Effective tax governance not only positively influences your relationship with the ATO, but can also provide practical benefits for your business, such as:

    • supporting business planning and decisions through expert advice and transparent decision making – which helps business stability and avoids unwelcome surprises
    • building the capability of your management and providing real time assurance so that business owners can optimise business performance
    • helping manage commercial and business risks – for example, governance that ensures effective succession planning makes transferring a business or assets more transparent and may also support business relationships
    • helping avoid fraud in the business
    • facilitating compliance with other laws and regulations, such as corporate regulations, trust laws and state taxes
    • ensuring accurate financial reporting and reinforcing the integrity of business records.

    Next:

    Last modified: 31 May 2016QC 49161