RSM Australia

Tax risk management

Ensuring your company is operating within the tax laws through effective tax risk management

A key aspect of corporate governance involves tax risk management.

Companies have to be comfortable that their tax decisions do not fall foul of the tax law and are not subject to adverse scrutiny by the tax authorities. RSM can help companies manage this exposure in a number of ways.

Our tax risk management services include:

  • representing the company in a tax audit or review, including negotiating with tax authorities to settle a disputeA key aspect of corporate governance is tax risk management
  • preparing objections to unfavourable tax assessments
  • advising boards of directors on the risks associated with tax schemes to be entered into by the company
  • preparing reasonably arguable position papers to document the position taken in respect of the interpretation of a tax law
  • carrying out prudential reviews or 'health checks' on various tax areas to identify any tax risks or exposures
  • applying for rulings from the ATO to provide certainty on tax outcomes

What foreign owners of residential property need to know about lodging their annual return

In late 2017, the Australian Federal Government introduced an annual vacancy fee to be levied on  foreign owners of residential property, where the property is not occupied or generally available on the rental market for at least 6 months in a 12 month period. 

How the PM’s defeat impacts corporate tax rates

Following the proposal for reduced tax rates for corporate entities in 2016, the Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017 (the Bill) was ultimately defeated in the Senate on 23 August 2018 by a vote of 36 to 30. 

Foreign incorporated companies and changes to the tax ruling - What you need to know.

Most will remember the 2016 High Court ruling in the case of Bywater Investments Limited.

Reduced corporate tax rates - what rate of tax will my company pay?

While the legislation is transitioning, some have been left confused about the application of reduced corporate tax rates and the details of eligibility criteria during this state of limbo. To provide some clarity, we take a closer look.

Fringe Benefits Tax – ATO finalise their position on private use of vehicles.

New guidelines for private use exemptions of eligible motor vehicles for Fringe Benefits Tax (FBT) - ATO says yes to making a quick stop to grab a coffee (as long as it doesn’t add more than 2kms to your trip to work and is infrequent) but no to heading to cricket practice after work. 

R&D Tax Incentive Reform - Call for submissions

R&D tax reforms, as announced in the 2018-19 Federal Budget, are steps closer to implementation with the Treasurer and Minister for Jobs and Innovation releasing draft legislation proposed to enact the changes. 

New GST withholding rules - what property purchasers and developers need to know

The Federal Government has passed legislation that will require purchasers of new residential properties to remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. The measures were first announced in last year’s Federal Budget. The legislation specifies: 

Budget falters on R&D tax (and how this impacts startups)

It’s the third budget handed down by Treasurer Scott Morrison and for those of us in the innovation space, a whole lot to digest. After poring over the detail, I’ve created a summary of notable items for your reading pleasure (disclaimer: it’s not all pleasant).

Is the ATO watching you and you don’t even know it?

The ATO is always keen to ensure that the tax system is fair and that all Australian taxpayers are paying the right amount of tax on their income.

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