A tax audit can be very stressful at the time when the Australian Taxation Office is alleging you have under-declared income or over-claimed deductions, or areas where the tax laws had applied in mistake.
When faced with a tax audit, It is not only the taxpayers who might feel the stress with the tax audit but also the tax accountant who had prepared the specific tax return/s.
Specialist in tax audit specialist for accountant
There is a safe harbor provision in the tax agent legislation, where if it can prove that the taxpayer provided the tax agent with all the relevant facts, then the specific tax agent might be liable for the potential penalty derive as a result of the tax audit.
EndureGo Tax is considered to be one of the most professional and experienced accounting firms in Sydney and Adelaide, and our speciality is to help other accounting firms in dealing with tax audits with the ATO. We can help the accountant, whose clients are facing with the tax audits.
If your client’s tax audit matter can be transferred to an independent third party tax audit specialist like EndureGo Tax, then it will be helpful and beneficial to you as an accountant and the client.
You will feel comfortable, as the matter will be handled by an experienced tax audit specialist of EndureGo Tax; this would mean the particular tax client will be removed from your tax agent portal, and we will deal with the all necessary complexities associated with the tax audit.
Our tax audit methodology is based on the keywords of Understand, Communicate, Review, Analyse and Resolve.
Our objective is to minimise all possible adverse outcomes from the tax audit and ensure the accountant stays safe within the safe harbor provision. We will review the tax audit letter, identify the specific tax audit issue on hand, communicate with the client and ATO tax auditor, getting all of the data, analyse them, and ensure that the accountant stays safe with the specific safe harbor provision.
Our core objective besides ensuring the client stays safe from the tax audit; we also want to ensure that the accountant or adviser stays safe from the tax audit. Our tax audit approach is to review the whole situation, talk to the client, and get the data and analyze it from an alternative perspective.
We will then communicate with the auditor from ATO, and formulate a strategy to deal with the tax audit.
Our panel of tax lawyers including most of the top tax lawyers in Sydney and on occasions we will choose a particular tax lawyer with a specific area of expertise to work on the particular tax audit case.
At the moment, we are handling a particular tax audit job, which the client was audited in 2004, and at the moment had been penalized with a penalty of over $700,000.
We examined the whole data and reviewed the original tax audit letter, the audit outcome and the objection, and we then found some contradictory evidence helpful to the objection.
We formulate a strategy in which we do not need to target the year of audit and look at the other year, and if we are successful, then the client would be able to save a significant amount of money.
Our panel of tax lawyers also include Mr. Michael Cranston who used to be the Deputy Commission of Australian Taxation Office Michael Cranston. Hence if you have clients who had received a tax audit or tax review letter from the Australian Taxation Office, please give us a call on 0410-829-900, or send us an email to jc@endurego.com
