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Taxation Advisers & Criminal Liability

Published on 24 Feb 2004 | Took place at Hawthorn Receptions, Hawthorn, VIC

An aggressive Australian Taxation Office is looking to prosecute 'errant' accountants and other taxation advisers. It is therefore more important than ever that accountants, tax agents and lawyers are aware of the criminal sanctions that can apply if they step over the line when trying to assist a client.

Individual sessions

Taxation Advisers & Criminal Liability

Author(s):  Arthur ATHANASIOU Consider the following realities of daily accounting practice:
- journal entries knowingly reflecting incorrect transactions - why is understating debtors or overstating creditors a problem?
- should you be concerned if closing stock balances are not supported by proper records?
- does your client give you balance day figures to achieve a certain profit for tax purposes?
- being involved in preparing records reflecting lower sales for cash businesses
- structuring and documenting transactions, such as management fees, to shift profits with effect from an earlier date
- what are your obligations if a client insists on entering into an arrangement that you have advised is not effective and asks for your assistance in implementing it?

This seminar paper considers the criminal penalties and other sanctions that can apply in these and other circumstances.

Materials from this session: