The tax office released some prosecution figures recently on compliance action it has taken against people this year. In brief, two thousand individuals and companies were successfully prosecuted for fraud, tax and superannuation offences in the 2011-12 financial year. Offences included attempting to hide income and assets overseas and individuals using stolen identities to submit false business activity statements.
There were also 1,447 individuals and 514 companies successfully prosecuted for taxation offences, such as failing to lodge returns and making false and misleading statements on tax returns and activity statements. Court-imposed sanctions included reparation orders, fines and custodial sentences.
At Boston Accounting we are only interested in working with clients who want to do the right thing. If you are concerned that your previous accountant was not up to speed with the latest tax law changes or if you have overdue tax returns or BAS’s call us today to sort it out.
Don’t use the ostrich method of problem solving and stick your head in the sand. Take the initiative and get on top of it before it costs you more than just a fine.
