- Description
- Specifications
Tax audits are a way of life for a small business operator. This paper - "Hints On Handling A Tax Audit" - sets out in a straight forward manner a series of recommendations to small business operators on what they should do in the event of a tax audit.
The paper, comprising six pages, makes comment on the following items:
- Frequency Of Audits
- Self Assessment
- Relying On Returns Submitted
- Enquiry From The Tax Office
- Timing Of Meeting
- Preferred Location For Meeting
- Preliminary Meeting
- Have Your Accountant At The Meeting
- Don’t Answer If Unsure
- Audits Now A Small Business Hazard
- Keep Accurate Records
- Questions That You Will Probably Be Asked
- Cash Business?
- Living Expenses?
- Cost of Living?
- Details Of Living Costs?
- Large Sums Of Money?
- How Much?
- Contents Of Your Wallet/Purse?
- Purchased Anything New?
- Treatment Of Private Assets
- Prepare Yourself
- Right Of Access
- Can Records Be Copied?
- Detailed Audit
- Unscheduled Visits
- Get A Receipt For Any Records Taken
- Final Interview
This is a paper which could be forwarded to clients once a year to remind them of what they should do if they receive an enquiry from the Australian Taxation Office and would also be very useful if it was forwarded to any client who had actually received notification of a tax audit.