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Are you facing an unlimited amendment period due to fraud or evasion?

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Published on 01 Oct 15 by "THE TAX SPECIALIST" JOURNAL ARTICLE

The time periods within which the Commissioner of Taxation may amend an assessment provide certainty for all parties concerned about the crystallisation of tax-related liabilities. On the other hand, the Commissioner’s ability to amend an assessment in perpetuum, where he is of the opinion that there has been fraud or evasion, has the opposite effect. For a number of reasons, scrutiny of the in perpetuum amendment provision and its application in a given case is important.

This article analyses in detail the Commissioner’s power to amend an assessment for fraud and evasion. First, the article examines the current state of the law, including a review of the cases on fraud and evasion. Next, the article looks at how the Australian Taxation Office has applied the fraud or evasion provisions in recent years. Finally, it addresses how to deal with clients, and the ATO, when allegations of fraud or evasion arise.

Author profile

Mathew Leighton-Daly
Mathew is a PhD Scholar Atax, UNSW Consultant. - Current at 15 February 2018
Click here to expand/collapse more articles by Mathew Leighton-Daly.

 

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