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Dealing with ATO Debt

Settlements of tax disputes in the early stages provides benefits for both the taxpayer and the Australian Taxation Office (“ATO”). Early engagement and ongoing communications with the ATO is critical for the purpose of negotiating mutually beneficial settlement terms.

Corporate Taxpayers may rely on ‘Data Files’ as Financial Records

The Supreme Court of Western Australia confirmed that ‘data files’ are admissible evidence for corporate entities in Brian Kevin Hughes as liquidator of Westgem Investments Pty Ltd (Liq.) v Commonwealth Bank of Australia Ltd [2018] WASC 150.

This decision is relevant for corporate taxpayers as they may now rely on raw information which has been inputted into accounting software (such as ‘Mind Your Own Business (MYOB), Quickbooks or Xero) as evidence in support of their financial position. The information saved on the data files may then be processed for everyday use in the form of balance sheets, general ledgers etc.

A summary of the dispute and its potential benefits for taxpayers is set out below.

Articles 11 to 20 of 42