If you're a Next 5,000 privately owned or wealthy group lodging a company tax return in early 2026, we have some important recommendations to get tax right and meet your obligations on time.
For example, include a lodgment calendar as part of your tax return procedures. A lodgment calendar is a great way to ensure that the lodgment of all your related entities is mapped out for the year and not forgotten.
We also recommend having a robust review process of the draft return to ensure that any errors are identified, including alignment between accounting and tax results. To do this, consider separation of duty between the preparer and the reviewer.
For taxpayers who prepare their return with a tax agent, we recommend:
- Have an annual engagement letter or scope of work document. Any material out-of-scope items that are relevant to the lodgment of the tax return should be included in your procedures.
- Implement or review your documented processes and procedures – such as a checklist – to ensure complete and accurate documentation, information and data that's provided to tax agents. This allows them to prepare your tax return and accompanying schedules correctly and on time.
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