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CFL Financial location Level 9, 360 Queen Street Brisbane, QLD 4000
fax CFL Financial 07 3328 8999
phone CFL Financial 07 3328 8988
Email CFL Financial mail@cflfinancial.com.au

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If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

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The Retirement Prosperity Guide™

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If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

ATO clarifies claims made in recent media coverage

Posted on May 3, 2018 by CFL Financial

The Australian Tax Office is standing by its actions undertaken that were presented on a recent current affairs program.

The ATO says where taxpayers fail to lodge tax returns and BAS returns over a number of years despite repeated requests, the ATO will raise a default assessment based on evidence that can be obtained, i.e., cash deposits in their bank account and bank statements.

In circumstances where a taxpayer refuses to cooperate with the ATO such as refusing to provide basic information, the ATO can only work off their bank account.

Firmer action is undertaken where taxpayers fail to respond to a position paper put to them based on this evidence and where there are attempts to engage with such taxpayers for an extended period, i.e., giving them a chance to rectify their tax situation.

One such penalty is a mandatory 75% penalty where a taxpayer has failed to send the ATO GST or tax they have withheld from their employees’ pay.

The next step is to issue a garnishee notice for taxpayers who repeatedly fail to engage with the ATO, despite the Tax Office’s attempts to contact them and collect tax owed. If there is no response from them, the ATO will then issue a garnishee notice.

The Tax Office generally will not proceed with garnishee action if there is a current dispute.

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Retirement-in style

Retire in style checklist™

There are a few reasons why Business Owners need a Retire In Style Checklist

If you’re a successful and Motivated business owner, and want to set yourself up for retirement, this guide would be perfect for you. My clients who follow these 3 simple steps live with comfort, security and the peace of mind that financial success brings.

Retirement-prosperity-thumbnail

The Retirement Prosperity Guide™

Make sure you don’t miss out on the Retirement Prosperity Guide

If you’re a busy Professional and you feel like you’re not building your wealth fast enough and you want smarter ways to utilise your cash flow, this guide is perfect for you. Clients who have used our strategies have the peace-of-mind knowing they have a ‘game plan’ for financial abundance.

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Email:
Phone: 07 3328 8988
Fax: 07 3328 8999

Office Location:
Level 9, 360 Queen Street
Brisbane
QLD 4000

Postal Address:
GPO Box 2468,
Brisbane,
QLD, 4001

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