Source: Taxation In Australia Journal Article
Published Date: 1 May 2015
When the Commissioner of Taxation forms an opinion that conduct of a corporate taxpayer or the taxpayer's tax agent involves fraud or evasion, drastic consequences can ensue. The Commissioner can then amend earlier years' assessments indefinitely, and may impose severe penalties. This article considers what conduct might constitute fraud or evasion, and provides guidance for assessing whether an organisation's past conduct may have involved fraud or evasion, through some common scenarios. Documentation that will help to minimise the risk of adverse A TO findings is discussed.
The article outlines how a taxpayer or its tax adviser can expect the ATO to interact with them if the ATO forms a view that fraud or evasion has occurred. Finally, the article explores the recent recommendations about fraud or evasion findings from the House of Representatives Standing Committee on Tax and Revenue Inquiry into Tax Disputes, and the ATO's recent amnesty, Project DO IT.
More by Daniel Slater
Diverted Profits Tax and MAAL - how and when they apply and how to manage disputes - Paper 24 Aug 2017
Significant tax cases and rulings - SME and HWI sectors - Paper 26 Nov 2014
Topical Tas cases and rulings for SMEs - Presentation 09 Oct 2014
Cases and rulings for large corporates - An update - Presentation 10 Oct 2013
Cases and rulings for large corporates - An update - Paper 10 Oct 2013
More by Stephen Chen
Employment taxes, it’s a personnel question: an overview of Employment taxes, including updates on recent law changes and regulator activity - Paper 05 Sep 2023
Navigating an ATO review - Paper 15 Sep 2022
Navigating an ATO review - Presentation 15 Sep 2022
Navigating an ATO review - Video 15 Sep 2022
R&D: navigating disputes - Journal 01 Aug 2022
A look at how the Commissioner deals with phoenix companies - Journal 01 Aug 2016
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Details
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags