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Why would you need a tax lawyer when you may already be employing a registered tax agent to prepare and submit your tax documents to the ATO?
Tax agents vs tax lawyers
At first glance this may seem unnecessary BUT did you know that you, the client, are responsible at law for the information given to the ATO by your agent?
If that agent has made errors; has not exercised reasonable care in making statements to the ATO or failed to submit your tax documents by the due date, YOU - not your agent, may be subject to base administrative penalties of up to 75% of the tax shortfall.
While most tax agents understand the tax system and will hopefully give you the best advice they can, they are not experts in the many areas of Commonwealth, State and international tax law and so even well-intentioned agents can sometimes make mistakes.
‘Safe harbour’ for certain penalties
Since March 1st 2010, the ‘safe harbour’ provisions may offer some limited protection to you where there has been ‘a lack of reasonable care’.
In such circumstances, your agent may be held responsible, BUT only if you can show the ATO that you provided all relevant information to the agent in time for them to prepare accurate documents and to lodge them by the due date AND that your agent failed to take reasonable care.
As well, these ‘safe harbour’ provisions do not apply to penalties for recklessness or intentional disregard of tax law, or for penalties arising from involvement in tax avoidance schemes.
Tax opinions to protect to you position
As you are the one who may have to pay any tax, penalties and interest, it makes perfect sense to get an opinion on tax issues from an expert in Tax law.
A specialist tax lawyer with a thorough understanding of both tax and administrative law will help you navigate the complexity of the tax system and help you make the best decisions for you, your family and your business.
If a dispute arises, it is not only reassuring to have such an expert in your corner, but it can also make a huge difference to the final outcome.
How can Tax Controversy Partners help you?
At Tax Controversy Partners, our experienced lawyers can assist you in understanding the taxation and superannuation regulatory implications of your situation and advise you in making the right choices.
If you are subject to a review or audit by a revenue agency (like the ATO) or have already been assessed by one, then we can help you to manage the process with that agency or in challenging their decision/s.
Please contact us using our online contact form, via email at admin@taxcontroverypartners.com.au or by phone at 02 8513 3813.