Miscellaneous

How the ATO will fine you for relying on its own advice

Author: Alice Mccleary

Published Date: 18 Jun 2001

 

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The Taxation Institute of Australia called upon the ATO to take appropriate action after a significant number of urgent appeals for solution to widely known problems with the Running Balance Account system. The response from the ATO was to release a policy document under the innocuous-sounding title 'Issues arising from the overlap of PAYG annual instalments and lodgement of income tax returns.'

Hidden behind a substantial amount of technical jargon that even tax advisors found hard to understand is an admission from the ATO that they are currently sending thousands of small taxpayers letters that are correct, but if the taxpayers rely on them, the ATO will fine them. And this admission is made under a heading entitled: 'ATO Policy'.

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  • Published By:Alice Mccleary
  • Published On:18 Jun 2001

The material is copyright. Apart any fair dealing for the purpose of private study,

research critisism or review, as permitted under the copyright Act, no part may be rerpoduced 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.

This material is copyright. Apart from any fair dealing for the purpose of private study., research, critisism or review, as permitted under teh copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opininons are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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