- Purpose of guidance is to outline approach and outcomes of Top 100 GST Assurance refresh review
- Top 100 GST assurance program aims to ensure correct reporting and payment of GST in Australia
- Program involves initial review, tailored assurance approach, and periodic refresh reviews
- Taxpayers expected to proactively engage and make disclosures during monitoring and maintenance period
- Refresh review will apply justified trust methodology and address actions from initial review
- Primary objective of refresh review is to reaffirm confidence in taxpayer’s GST reporting and payment
- Expect taxpayers to review control frameworks, conduct data testing, and make real-time disclosures
- Intensity of refresh review will depend on taxpayer’s circumstances and ADF rating
Source: ato.gov.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Australia"
- ATO Releases Updated Guide for GST Analytical Tool for Top 1000 Taxpayers
- ATO Finalizes GST Rules for Prepared Meals, Offers Transitional Compliance for Certain Products
- Updated GST Rulings on International Supplies: ATO Issues GSTR 2025/1 and GSTR 2025/2
- ATO Withdraws Practice Statement on GST Treatment of Government Agency Fees and Charges
- ATO Finalizes Waiver of Tax Invoice Requirement for Direct Entry Services in 2025
