ATO Audit Support
Secure your discovery call with seasoned business accountants
Offering ATO Audit Assistance when you need it most
Offering ATO audit assistance when you need it most
Running a business can be tough but dealing with an ATO audit can be downright terrifying. Offering expert assistance and support, we make sure you’re fully prepared and confident throughout the entire process.
Essentially a review of your financial records and tax returns, an ATO audit is conducted to ensure that you have reported all your income and expenses correctly and in accordance with tax laws. If the ATO suspects that there may be discrepancies or errors in your reporting, they may choose to conduct an audit of your business.
Offering comprehensive ATO audit support, we believe the key to success is having the right documentation and records to back up your reported figures.
This is where our ATO audit assistance comes in.
Expert ATO Audit Support
Expert ATO audit support
Our experienced team of accountants are well-versed in the ATO audit process and have helped many clients successfully navigate the process.
Gathering and organising all the necessary documents and records, we provide guidance on how to present your case to the ATO.
Understanding the stress and anxiety that comes with an audit, we’re here to provide you with the support you need to get through it.
Our ATO audit assistance includes a thorough review of your financial records and tax returns to identify any potential issues that may arise during an audit. We can also help you prepare responses to any ATO queries or requests for additional information.
Teaching you to avoid ATO Audits all together
Teaching you to avoid ATO audits all together
In addition to our ATO audit support services, we go above and beyond to help you minimise the risk of an ATO audit happening in the first place.
By ensuring that your financial records and tax returns are accurate and up-to-date, you’ll greatly reduce the likelihood of one occurring.
ATO Auditing explained
ATO auditing explained
ATO auditing is a nerve-racking process where the Australian Taxation Office (ATO) digs through your financials and tax information to make sure you’ve paid your dues.
They want to make sure that you’re being truthful about your income and deductions. Anyone, including individuals, businesses, and organisations, can be selected for an ATO audit, and they use various techniques like data matching, tip-offs, or random selection to choose who to audit.
Trust us, an ATO audit is not something you want to go through alone. If it happens to you, give us a call. It’s important to get a professional opinion.
ATO Audit Support and Assistance
ATO audit support and assistance
At Altias Accounting, we pride ourselves on providing the highest level of ATO audit support and assistance to our clients. We understand that an audit can be a stressful and time-consuming experience, but with our help, you can navigate the process with confidence.
Contact us today to learn more about our ATO audit support services and how we can help you prepare for or navigate one that is already underway.
With our help, you can be confident that you have the support and expertise needed to successfully come out the other side.
Secure your discovery call with seasoned business accountants
ATO Audit Support FAQs
Audits range from quick examinations of source documents to a more extensive analysis of complex transactions and deductions. They can also cover anywhere from one financial year up to five. The ATO will usually start with a phone call during which they will set a time for a visit.
Its hard to say exactly as their focus changes from year to year but typically you will draw the attention of the ATO if you fail to declare income, claim deductions you are not entitled to or you fail to undertake various compliance activities such as paying your employee super or not correctly reporting PAYG Withholding on your activity statement. If you feel you may be at risk contact Altias immediately and we can undertake an audit risk review and provide you with advice on how to implement systems and processes to reduce your risk moving forward or where we find a discrepancy to work with the ATO to resolve any omissions.
Absolutely not! You need to be very careful with what records you keep and what records you destroy. For example if you have a capital gains tax asset such as an investment property and you hold that property for 10 years. Then you must keep those records for 5 years after the sale of that property. So 15 years! If you are unsure about what to keep and what to throw out, given the benefits of digital scanning, our motto is to keep everything, just scan it into your dropbox, external drive, and keep a copy, especially when it comes to disposal of valuable assets.
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