Tax Consulting and Problems
Prior to a problem
Taxation is an aweful beast. If you underpay tax you may be liable to payment of the tax, penalties and interest. However, on the flip-side if you overpay tax it also comes with a cost. But the worst position is the taxpayer who thinks they did nothing wrong who doesn't seek an opinion. They often meet with the ATO and confirm to them they made a mistake then wonder why they have a tax problem.
Obtaining tax advice before embarking on a venture, new transaction or audit enquiry is the safest option. This advice should come from a tax practitioner but may also be supported by tax rulings, determinations or even a private ruling applicable to your circumstances. The advice may limit or prevent future penalties and avoid a claim of recklessness. The consulting advice should always consider not just income tax but also GST, stamp duty, legal risks, asset risks and estate planning.
Our advice ranges from general guidance and advice through to formal written advice following careful review and consideration of your specific circumstances.
Found a problem?
Clients who encounter an emerging tax problem should seek advice immediately prior to the problem escalating. Received an ATO Notice?, been advised a desk review is planned?, a phone enquiry or an unscheduled drop-in from the Tax Office ?? All have the potential to become a serious issue and we have seen something as simple as a single letter escalating to criminal prosecution in a court.
Rule 1 : Before reply to an ATO enquiry seek advice except if Rule 2 applies
Rule 2 : See Rule 1.
If you are affected we can review your issue and provide immediate guidance. We may also be able to delay action and seek additional time to prepare information or your defence. Should your matter require legal counsel and representation we have worked with leading legal specialist counsel in the past and can rapidly access appropriate professional legal support that may resolve matter prior to costly appearances and appeals. If it does proceed to court your defence can be quickly prepared and handled.
Our staff possess over 15 years of extensive experience. We are able to offer very competitive charge rates compared with leading city-based firms.
Please note that we generally will not discuss pending prosecution matters by phone and will require a face to face meeting.