An update has been released by the ATO to its draft practical compliance guideline on the topic of identifying where a company’s central management and control are located. Specifically, it now includes a risk assessment framework with 3 risk zones (low, moderate, and high) to help foreign incorporated companies understand the likelihood of the ATO applying compliance resources to review their residency. Companies can self assess against the new framework which will provide more certainty regarding the ATO’s compliance approach.
Click to read our article: CM and C: risk assessment framework