Business & Company: Mergers & Acquisitions - Guides
Mergers & Acquisitions
4. Appeals & Objections
Last updated: 06 Jul 2015
- Since Australia operates a self-assessment taxation system it is left to every taxpayer to lodge their tax return based on the prevailing laws.
- Any error will appear when a review is undertaken by the Australian Taxation Office (ATO) and an amended assessment will be issued showing the increased tax that needs to be paid along with any penalties.
- If you are not satisfied with a decision made by the Commissioner of Taxation you may object. If your objection yields no change of decision then you are entitled to lodge an appeal to the Administrative Appeals Tribunal (AAT). Final recourse is to the courts however it is usually best to attempt to resolve any issues outside of court where possible. The court process can be lengthy and costly but is unavoidable in some situations.
- Making a successful objection or appeal would require the services of someone who is accustomed to court procedure. There are many technical legal formalities and rules that must be complied with. In order to develop a persuasive legal argument you must understand the law that you are allegedly in breach of and any applicable exemptions.
- You can use our free Find a Lawyer directory to help you locate an experienced taxation lawyer who may be able to assist you.
- If you are found guilty of not disclosing your true tax position according to law you may be subject to penalties and extra tax in addition to payment of shortfall tax.
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