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ATO Audit
Recent ATO crackdown on the Australian Horse Industry has highlighted the need to ensure your activities are complying with current taxation laws. ATO directives are not clear-cut and Breeders, Owners, Trainers and Jockeys could be led to believe they are not complying without sufficiently researching and defending their position.
Thoroughbred Tax Consultants can help you understand and meet your taxation obligations, correctly identifying whether you are meeting your Tax File Number (TFN), Australian Business Number (ABN) and or Goods & Services Tax (GST) registration requirements. We can:-
- Assist you in keeping up to date with lodgement of BAS activity statements and income tax returns;
- Correctly report GST payable and income; and
- Correctly claim credits and deductions in your activity statements and income tax returns
Business VS Hobby is a key area concentrated on by the ATO and we can assist with a full case submission analysing your activities, giving you the opportunity to react proactively in view of an audit.
If you are unsure about how your enterprise is viewed in the eyes of the ATO or if you are subject to an ATO audit / questionaire or you if you object to an ATO ruling relevant to your enterprise, please contact us if you need assistance.
Click Here be sure to include a summary of your situation.
Accounting & Tax Compliance
While our clients focus on their core business/s, we concentrate on providing specialised accounting & tax services insuring clients are gaining maximum deductions and entitlements.
 We can keep an eye on your tax affairs:-
- Year End Financial Reporting
- Bloodstock Tax Depreciation Schedules
- Property Depreciation Schedules
- Full Bookkeeping Services
- Activity Statements (BAS/IAS)
- Tax Returns
- ASIC Annual Returns
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