Breakfast Club 2003: The Tax Challenges - hit and miss
Published on 21 Aug 2003
| Took place at Leonda by the Yarra, Hawthorn, VIC
As we are all no doubt acutely aware we abuse our clients in a self assessment simplified system.
If you say these last few words, 'self assessment simplified system', loudly and quickly a discernable 'hissing' can be heard, similar to that emanating from many tax practices as one passes by!
Although there may be many reasons for such 'hissing' (FSRA, GST, FBT, CGT discounts and
rollovers) its most probable cause is related to tax assessments, amended assessments, Part IVA
determinations, penalties, GIC, ATO IDs, debt resolving, and the biggest 'hiss' of all - preparing for a challenge with the ATO.