05 Sep 1414
More on appropriation of tax refunds
MEMBER 126 writes:
"In last week's TAXVINE - see 2014 TAXVINE No 31 (29 August 2014) - Member 122 complained about a tax refund due to a company that was then taken to pay (an already paid) integrated client account, which then left a credit for them to try to get back.
Surely, money paid on a tax account is equivalent to moneys received in our trust account...[and should] not be misappropriated to pay a totally different tax account (which is not yet due).
If we take a client's tax credit to pay our account without authorisation from the client, the Institute of Chartered Accountants would have us crucified.
The ATO are taking moneys held in trust to pay themselves, how can this be legal, it is certainly not ethical and should be challenged legally."