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huh??:confused:

1) I didn't pay any of the interest, just let it accrue until there was an outcome made at the Tribunal to reduce/remove it. 2) ATO says its irrelevant whether the interest was deducted in previous years as remitting it is accessible either way. So basically what happens is (assuming 50% tax...

Yeah I've asked for the accountant to amend the previous claims of the GIS charge deductions but he keeps avoiding the question. I think there's only a certain duration this can be done for, but given the nature of the case some leeway should be given. The woman i spoke to at the ATO call...

So heres whats transpired since the above quoted post: 1) Due to having no contact with accountant, I contacted another (from a well respected firm that posts on these forums) who passed on taking it on. 2) End up getting in contact with my accountant, he thinks it isnt going to go anywhere as...

Still no email reply or return call from Accountant. I think im in the market for another who knows how to reply in a timely manner. Preferably in Perth if anyone has any recommendations? It'd be difficult to handover all the ongoing information on this case to another accountant, though...

I've tried emailing and calling the lawyer bloke from the ATO I was dealing with previously. Both measures no longer exist so he's potentially left the organisation. I've a feeling accountant declared the accrued interest as a deduction in the year it was accrued (even though i didnt pay it...

Yes of course. Definitely put in queries, plural.

Might have to. Interest that i didnt pay, wasnt refunded to me, and i have to pay tax on it? :rolleyes::confused:

Ouuuuuuuchhhhhh :eek: Just did my 2012-13 tax return and its awful.:mad: I paid 15k tax during the year via income tax. I had a few misc deductions, nothing major. Result = Pay an additional $15k! :eek::eek: This is because the overturning of the 2008 decision (written about in the...

In a company sense, wouldnt registered debtors / creditors be necessary for this? As a purchaser I didn't think it was your responsibility to care what tax position the seller was in. Following on from this, is this DD that purchases should do from now on - check the financial position of the...

Yea, I figured that was the scenario but im puzzled why they would write to you since you're not involved. As it happened you didnt complete the contract which wouldnt be an uncommon occurence - wouldnt they have been better off writing to conveyencer or to the financier to capture funds?

may i ask why?

Hadnt thought of that, will check. I was recently approved for a high lvr construction loan though and nothing came up about it then.

Thanks, and agree completely with all of that.

I cant turn back time mate. How is removing a 90k debt not a win?

Yes indeed i am :D No fees, as I was self-represented. I think the AAT fee was $800 but you get majority of that back if you win. Yeah, this is true. But they've sent an official proposal outlining all the amendments to my return and both the ATO and I have signed them.

Accountant is Mark Langridge from Stellar Accounting Solutions who I can't praise highly enough. I'm now been in my current job for 2.5 years, building a PPOR in a new estate, the roof went on last week and this week they're plastering the walls ready for lock up stage. Onward and upward :)...

The end result is that its finally over, I'm so happy - both for the fact that its dealt with and because I dont have the pay the ATO $90,000 like they were originally demanding of me. Here's the long version: In 2004, I purchased a property in Clarkson, WA for $197,000 using FHOG and...