Case Study 4
how we helped and continue to advise
“Contact UsThe ATO accepted our representations on behalf of our client, felt relief was appropriate and waived the general interest charges.
A client, for whom we prepare individual taxation returns each year for employment and investment income, encountered personal issues which combined to thwart his usually organised preparation of records for timely completion and lodgement of his taxation return. The death of a family member, being obliged to relocate residence frequently, misplaced and lost records all conspired to delay lodgement for three years!
Unfortunately, in that first year there was a significant tax liability and, as is the custom, the Australian Taxation Office applied general interest charges which amounted to $18,115.
Our client paid the assessed tax liability, however we considered there were circumstances beyond his control which contributed to the delay and not inconsequential interest penalty, and we recommended a formal application for remission was warranted.
The ATO accepted our representations on behalf of our client, felt relief was appropriate and waived the general interest charges.
Of course, subsequent tax return lodgements were also late and general interest charges were applied, but the ATO agreed with our view and also waived the penalty interest charges for subsequent years.
By taking that extra step, being aware and looking at our client’s affairs objectively, we were able to save our grateful client these substantial amounts:
2005 $18,115
2006 $ 5,459
2007 $ 4,580
Total: $28,154
At BSN & Co we take “service” seriously.
more case studies
Case Study 1
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Case Study 2
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Case Study 3
We advised these clients as to the most appropriate structure to move forward and cater for future tax implications and concessions.
Case Study 4
The ATO accepted our representations on behalf of our client, felt relief was appropriate and waived the general interest charges.
