Managing Audits and Reviews (both ATO and SRO)
Overview
Tips for managing clients and engaging with ATO/SRO/TROs during an audit or review
The ATO conducts a wide range of review and audit programs, targeting various areas of perceived tax and superannuation risks for individuals, small businesses, private groups, public groups and multinationals. Clients with property and large labour-focused businesses have additional audit and review risks with SRO/TROs, who have already increased audit activity on land-based and payroll taxes.
If practitioners don’t effectively manage their clients and engage with the audit/review team, then this can lead to many adverse impacts for the practitioner and their clients.
This session is intended to give tax practitioners, accountants and lawyers an improved understanding of the ATO and SRO/TRO’s review and audit approaches, covering:
- The risk assessment framework and the Compliance Model
- The ATO/SRO/TRO Charter commentary on reviews and audits
- Overview of ATO/SRO/TRO access & information gathering powers
- More detail on relevant types of reviews and audits for individuals, small businesses and private groups
- Importance of understanding the ‘risk hypothesis’ for each of their enquiries – & how to explain to clients
- How to better engage with the audit/review team and why this can be so important for the client and the practitioner
- Overview of assessment law and principles for both Federal and State/Territory taxes
- Overview of shortfall and default assessment penalties for both Federal and State/Territory taxes
- Overview of contesting adverse review or audit decisions for both Federal and State/Territory taxes
- Practitioner and professional association commentary on recent compliance concerns and audit programs
Learning Outcomes:
Participants will gain an improved understanding of:
- Risk assessment approaches and their ‘promises’ about how they will deal with reviews/audits in the relevant ATO/SRO/TRO Charter
- Ways to better manage clients during a review/audit
- Ways to better engage with the during a review/audit
- Role of penalties and assessments in review/audit outcomes
- Ways to better manage disputes resulting from reviews/audits
Suited to:
Accountants, tax practitioners, BAS agents, lawyers and other practitioners serving small businesses, private groups and wealthy individuals.
You will also be provided with:
- Access to watch the Live Webinar
- Opportunities to ask real time questions to the presenter/s
- Poll questions to test your knowledge
- Access to On Demand recording, which can be viewed multiple times, for as long as required
- Presenters contact details for follow up questions
- CPD Quiz (for On Demand recordings)
- CPD Certificate
- CPD Report – Logged automatically
- PowerPoint Presentation
- Verbatim Transcript, with Searchability
- Supporting Documentation
Your presenter
Bruce CollinsTax Controversy Partners
is the founder and principal solicitor at Tax Controversy Partners Pty Limited, currently helping clients to resolve all types of tax issues with the ATO and SROs. Before moving into private practice in 2017, Bruce worked for over 35 years in the Tax Office, a third of this time as a Senior Executive in what is now Compliance & Engagement Group, covering most ATO functions. Bruce was the leader of the Technical & Case Leadership area in Private Wealth for several years prior to leaving the ATO, as well as having previously been the strategic, technical and compliance leader for many of the ATO’s audit programs. Bruce was one of the sponsors for the development of the Private Wealth Tax Governance & Internal Control Framework. Since leaving the ATO, Bruce has been assisting clients with many ATO reviews and audits, as well as with SRO audits on various State tax issues.
Bruce has an Accounting Certificate (1989), a First-Class Honours Degree in Law (1995), a Graduate Diploma in Legal Practice (1996), a Masters of Taxation (2003) and a Masters of International Taxation (2006). Bruce is a Chartered Tax Advisor with the Tax Institute, a member of the Law Society of NSW, a member of the AICD and is both a member of the Law Council of Australia, their Tax Committee and is the current Chair of the Law Council SME Business Law Committee.