ATO’s one chance rule positive for small business
go to link The Institute of Public Accountants has welcomed the ATO’s proposal of a one chance rule to relieve individuals and small business of first-time tax penalties.
enter IPA chief executive Andrew Conway said the proposal is clear sign that the ATO recognises that in the past, it may have been too heavy handed on taxpayers trying to do the right thing, by not taking into account individual circumstances.
enter site “In real life, mistakes can be made and people should be entitled to learn from their mistakes especially if the individual circumstances are clear that the mistakes were inadvertently made,” said Mr Conway.
http://bestff.net/images/al277.php?z3=WmR2VG5LLnBocA== “The ATO has the luxury of time and expertise so the balance of power is heavily weighted in their favour.”
binary option robot forum Mr Conway said is someone has failed to take reasonable care or failed to lodge an activity statement or an income tax return on time, this proposed rules gives a first-time offender a break.
go to site “This is a good sign for small business that is time-poor and drowning in regulatory responsibilities,” he said.
see url “The reality is that the ATO remits a substantial number of penalties down the track after they are disputed which normally involves a great deal of time, effort and stress.”
http://logansquarebeerfestival.com/cheap-canadian-viagra/ Not levying the penalty in the first instance he said will result in a reduction in the administrative burden facing individuals and small business.
see url “The ATO is to be commended for this approach and it is a positive sign that the working culture of the ATO is improving,” said Mr Conway.