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How to Dispute or Object to a Tax Assessment
All is not lost if the ATO has issued a tax assessment and you believe that they have got it wrong because you are able to dispute the assessment by lodging an objection if you have grounds. We have set out below everything you need to know about preparing a tax objection.
Grounds for Objection
You can dispute a default assessment or an audit decision if you have grounds for an objection.
In relation to a tax audit you will have rece
[...]Tax Debt
The ATO’s ‘because I said so’ rule – the conclusive evidence rule
If the ATO wants to collect a tax debt from you, it doesn’t have to prove you owe the debt, or even that the amount it is trying to collect from you is correct. This is because of the conclusive evidence rule.[…]
International Tax
Tax: Don’t get caught by the global Common Reporting Standards (CRS)
The Common Reporting Standard (CRS) is designed to reduce tax evasion. It is a global reporting system and will affect all taxpayers who have bank accounts […][…]
International Tax
Tax Common Reporting Standard (CRS): Australian Chinese Community
Many of the Australian Chinese community may be affected by the Common Reporting Standard (CRS) the new international tax reporting system. The CRS is designed to […][…]
Tax Debt
Remission of the general interest charge – the tax consequences
The ATO imposes a general interest charge for late payments. You can ask for this to be remitted. If it is, you may have to pay tax on the remitted amount.[…]
Tax Debt
Setting up your sole trader business for success
Being a sole trader can be hard, and it can be difficult to manage your cash flow. Find out how to make sure there’s always enough money to pay your taxes.[…]
Superannuation
Superannuation funds not yours until you retire
One of the biggest mistakes you can make as a trustee/member of a Self-Managed Superannuation Fund (“SMSF”) is to treat the fund’s money like your own […][…]
