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Contact
Phone: 07 3012 8748
Fax: 07 3012 8700
Street Address:
Level 9, 97 Creek Street,
Brisbane Qld 4000
Postal Address:
GPO Box 3015,
Brisbane Qld 4001
Email:
noe@viccaca.com
Cashmere Office
(By Appointment):
07 3264 5920
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:: AUDIT PREVENTION PROGRAM
The Solution – Pre GST Audit Review
The famous medical idiom, ‘Prevention is better than the cure’, has its home equally in the area of of GST Tax Audit as it does in the area of Medicine. Vicca Chartered Accountants are registered tax agents and w e conduct client specific GST audit reviews to:
- Identify audit weaknesses and put procedures in place to correct the system defects
- Identify errors and work with the clients to make voluntary disclosures to correct them
Pre GST audit reviews are an efficient and penalty free ways of identifying system errors, staff failure to follow procedures and or identify errors in the application of the GST Law to business transactions. Once these areas of weakness are identified we arrange a client specific strategy to deal with them and where necessary negotiate a voluntary disclosure and settlement with the ATO.
When Audit Activity has Commenced
When an audit activity has commenced time is of the essence. Often a new face with an untainted and objective analysis of the transactions and the relevant law provides the necessary impetus for a successful negotiation of an outcome.
The engaging of an independent practioner creates an objective playing field and codifies a delineation of communications with by the ATO away from you current tax agent and your staff. Allowing your staff not to become embroiled in the Audit process and focus on the business of making money for the company.
When an Assessment has Already Issued
When assessments have already issued, ‘time is of the essence’.
Strict time limits apply to both the objection process and the capacity of affected taxpayers to amend GST claimed or paid prior to new assessments being raised by the ATO against the taxpayer.
Where the audit process is not professionally managed, because of legislative these time limits, the ATO can raise an assessments with 1 taxpayer with no capacity for the affected taxpayer or their associates to claim back a the corresponding credit adjustment in another entity back.
Further there is a 14 day time limit for a Judicial review of penalties, a 60 day time limit to lodge as objection to a GST assessment and a time limit of either 2 years for an individual or small business or 4 years for other taxpayers to request an amended assessment if they are being inadvertently affected by the ATO decision.
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free consultation.
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