Know someone who has finally had to cough up $50,000 CGT, thought she could/would get away with it as it was her only property. This property had been rented out for 10+ years. She completely ignored the CGT issue and was shocked when she received a letter from ATO, requesting - $50,000 this also included outstanding HEC fees from some 10 years ago that she was never going to pay back.
Wont bore you with all the details, however she does not have a job (no income she discloses) and believes she can work a payment plan with the ATO - $50 per month even though she used the proceeds from the sale of this property to purchase another property which she rents out and lives off this income.
Please tell me that can not happen?? Seriously I pay my taxes like everyone else, but when I was told she would negotiate $50 per month it absolutely infuriated me. This is just so wrong
Also, did I mention she will be getting $48,000 compensation from a car accident she recently had, she mentioned that this has to be disclosed to ATO, but she wants to keep those funds, well of course she would.
My rant for the day
MTR
Wont bore you with all the details, however she does not have a job (no income she discloses) and believes she can work a payment plan with the ATO - $50 per month even though she used the proceeds from the sale of this property to purchase another property which she rents out and lives off this income.
Please tell me that can not happen?? Seriously I pay my taxes like everyone else, but when I was told she would negotiate $50 per month it absolutely infuriated me. This is just so wrong
Also, did I mention she will be getting $48,000 compensation from a car accident she recently had, she mentioned that this has to be disclosed to ATO, but she wants to keep those funds, well of course she would.
My rant for the day
MTR