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LETTER OF THE MONTH

By Keys, Monterey
Publication: CA Charter
Date: Monday, December 1 2003

A NECESSARYASSESSMENT?

I cannot believe that our office has recently received over 100 assessment notices from the Australian Taxation Office (ATO) regarding monies owed by our clients. These relate to the 2002/03 tax returns and the amounts owed are either $1 or $2. These monies owed are simply

a case of rounding adjustments caused by paying four 1 PAYG instalments over the last 12 months, and then the ATO reconciling these when we have lodged the tax returns.

When you consider it costs 50 cents in postage to mail out these letters, you really have to wonder about the bureaucratic processes within the ATO. Imagine if we all ran our businesses like that!

IMAGE PHOTOGRAPH 1IMAGE ILLUSTRATION 2SIDEBAR

Tim Borten CA has been awarded letter of the month for his opinion on the Australian Taxation Office's issue of assessment notices. he has won a bottle of wine, courtesy of The Wine Society.

AUTHOR_AFFILIATION

Tim Borten CA

Monterey Keys QLD

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