Tax & Superannuation: Company Tax - Guides
Company Tax
9. Appeals & Objections
Last updated: 10 Jul 2015
- Australia operates a self-assessment system of taxation. It is therefore left to each corporate and personal taxpayer to lodge tax returns based on the current laws.
- If any error appears in your tax return when a review is undertaken by the ATO an amended assessment is then issued showing increased tax that needs to be paid.
- If you are not satisfied with a decision by the Commissioner you may object. If that objection fails you may then appeal:
- to the Administrative Appeals Tribunal (AAT); and then if still unsuccessful
- to the courts.
- To make a successful objection or appeal you will definitely need a lawyer who is familiar with the procedures required to lodge such objections or appeals.
- You may also need legal representation before the ATO. This is especially the case if the Commissioner is at the point of deciding whether he should exercise his discretion to disregard the application of Division 7A in your situation.
- If you are found guilty of not disclosing your tax position according to law you may be subject to penalties and extra tax in addition to payment of shortfall tax.
- However having a reasonably arguable position will increase your chances of avoiding some of the penalties. A lawyer will be able to formulate the proper written arguments in support of the tax position taken in the return lodged by you.
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