Anthony Carafa
Director
Tax governance helps establish and maintain frameworks for managing tax risks and obligations. This ensures compliance with tax regulations, enhance transparency in financial reporting and align tax strategies with the overall business goals to reduce potential liabilities and improve tax efficiency.
Our tax governance service is designed to ensure that you comply with tax regulatory requirements while enhancing tax efficiency. We offer a comprehensive approach that includes the development of robust tax policies and procedures, implementation of effective internal controls and regular reviews to identify and mitigate any risks. By doing this, we help you maintain compliance with complex tax laws and avoid costly penalties.
In addition, our service helps establish justified trust with the ATO in a review. This proactive approach streamlines the review process and ensures transparent dealings with the ATO.
Tax governance ensures that your tax policies and procedures are aligned with current regulations, reducing the risk of non-compliance and potential penalties.
With a tax governance framework, you can gain better visibility into your tax position and obligations. This transparency allows for more informed decision-making and strategic planning, to help assess the tax implications of various business decisions and transactions.
Our most common services are listed below, but let us buy you a coffee to discuss your specific requirements.
Our tax governance framework will document clear processes for tax lodgments, obtaining tax advice and reviews which can save on costly errors and maintain consistent compliance reducing the administrative burden.
Our team have a comprehensive knowledge of tax regulations and best practices. This will ensure that your business receives up to date and accurate advice to manage complex tax issues.
With us, our tax governance service provides ongoing monitoring and risk assessment to identify potential issues. By being proactive, tax risks can be addressed and businesses can mitigate the likelihood of compliance breaches.
Effective tax governance not only positively influences your relationship with the ATO but can also provide practical benefits for your business such as building capability of your management, avoiding fraud and more accurate financial reporting.
Equipped with a team that has the experience and capabilities of a big firm, but maintaining our deep, personal connection is something we pride ourselves on. Our team are highly supported and we are conscious of wanting to keep our numbers small, but our value high.
We have a team of experienced professionals from a diverse range of backgrounds, highly qualified for every business need. Some of the qualifications our team possess include:
We take great pride in our customer service and the deep relationships we have with our clients and we are humbled to learn that our clients feel the same way.
Much like client NPS®, we take great pride in our employee engagement and the deep relationships we have with our team as we support them on their professional journey.
Director
Director
Director
Senior Client Manager
Senior Client Manager
Client Manager
A tax governance framework is a detailed document that can help your business identify and manage potential tax risks.
An effective tax governance framework typically includes clear tax procedures and policies, regular compliance reviews and risk management procedures.
Tax governance helps to establish justified trust in an ATO review and helps to demonstrate commitment to compliance with the tax regulations.
The MGI Tax Governance Checklist is a practical tool designed to help businesses assess and enhance their tax governance frameworks. It ensures alignment with the Australian Taxation Office’s (ATO) guidelines and assists organisations in managing tax risks, maintaining compliance, and demonstrating robust governance practices.
The checklist aligns closely with the ATO’s requirements for tax governance, providing businesses with a structured approach to evaluate their compliance readiness. By addressing areas such as governance policies, risk management, and documentation, the checklist helps companies proactively meet ATO expectations and reduces the likelihood of reviews or disputes.
Let us buy you a coffee to discuss your requirements.