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Offering more than accounting services in Surry Hills
As a small business accountant in Surry Hills and the work I do on an everyday basis, a number of my past blogs this year have been in relation to ATO data matching and with good reason. The fact that so much of our lives is now recorded electronically or online provides the ATO with some massive opportunities to conduct reviews of potential audit targets. This gives the ATO a huge head start on who to audit and no doubt allows them to have a much higher success rate in catching out tax cheats. With our many years of experience as small business accountants and being apart of ipa accountants here is a quick summary of the who, how and why of what the ATO is targeting we can let you in on: ·Any motor vehicle transfer that was registered as being greater than $10,000.00 in value since 1 July 2011 will be looked at. As always the ATO gives the opportunity to come clean and make “voluntary disclosure” which will assist anyone who knows they have done the wrong thing in mitigating potential ATO penalties. It’s just another reason why it is so critical to keep completely accurate records for your business (and your home life as well) and to keep an open and honest relationship with your accountant as one of the core segments of your business operations. Do not hesitate to contact us, your tax accountant in Surry Hills if you have any queries on the particular important topic.
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