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Tax governance for privately owned groups

Outlines effective tax governance practices and guiding principles for privately owned groups.

Last updated 30 November 2021

What good governance achieves

Privately owned groups are significant contributors to the Australian economy. The decisions they make can have a considerable impact on our tax and super systems.

When private groups have good governance in place around their decision-making, that gives the community and government confidence that private groups are meeting their obligations and paying the right amount of tax.

What tax governance is

Tax governance means having clear processes and procedures in place in a corporate governance framework to support tax decision making and manage tax and super risks. A private group's tax governance is effective when the processes and procedures it has in place consistently result in the correct tax outcomes and in ensuring that the private group is meeting its obligations.

Tax governance will look different for each business, but the principles are the same. We encourage private groups to consider how the seven principles of effective tax governance apply in their circumstances.

We can help

We are committed to helping private groups improve their tax governance. Our guidance is designed to help private groups design and improve their tax governance frameworks, processes and procedures.

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Use our tax governance guide to implement effective tax governance practices and principles.