Quarterly Board Update — tax developments in Q3

The Australian Taxation Office (ATO) has for many years emphasised the role of the board in managing tax risks, and in some instances directors may have personal liability for unpaid taxes of a company. Striking a balance between the acceptable level of risk and the enhancement of shareholder value is challenging. However, the board is expected to establish and maintain strong corporate governance structures for managing risk, including tax risks. This includes ensuring there is:

  • controlled and transparent management of tax activities on a day-to-day basis
  • an enhanced ability to anticipate issues (such as changes in law and relevant court decisions)

Appropriate compliance and reporting procedures for material transactions and developments will ensure significant tax risks are elevated to the board for their consideration. To assist you in managing these risks, Minter Ellison has created a quarterly update to discuss the issues that you may wish to raise with your board during each reporting period, starting with the third quarter (Q3)…

Click on the link below to read the rest of the Minter Ellison briefing.

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from Minter Ellison

View more briefings from Minter Ellison

Overview

Level 19, Aurora Place
88 Phillip Street
Sydney
2000
Australia
http://www.minterellison.com

Jurisdiction: Australia
No. of offices: 10
No. of qualified lawyers: 791