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Calling all accountants!
I think I am in big trouble


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5 replies to this topic

#1 ChunkyChook

Posted 26 January 2013 - 06:11 PM

My accountant is away until the 4th of Feb and I'm freaking out.

Cleaning up I found a group cert. I had completely forgotten about it. It's Gross $3485 and I only paid $50 tax.
It's all been done and lodged. Is the ATO going fine me or something? I am scared I will be done for fraud. I will let my accountant know first thing when he gets back. I'm just worried I am going to get in trouble for something I didn't intentionally do.



#2 protart roflcoptor

Posted 26 January 2013 - 06:15 PM

Don't panic! What income year is the payment summary from?

All you have to do is lodge an amended assessment for that year including the info on the summary you found. Your income tax will be recalculated and if you have a debt you may be up for interest from the time it should have originally been due. But that is often remitted, or you can ask for it to be remitted.



#3 ChunkyChook

Posted 26 January 2013 - 06:19 PM

09/10 year, a while ago!  I hope I dont owe them anything.




#4 The3Monkeys

Posted 26 January 2013 - 06:22 PM

Hello, I will answer as an accountant. It is not a big deal, just speak to your accountant when they return as they may very well have included it in your return as we have access to additional information that you may not have provided to them.

If they haven't included it, it is not a big deal as they can just do an amendment of your return to include it.

Please don't stress as it is definately not an issue at all!

#5 Dresden

Posted 26 January 2013 - 06:28 PM

In most instances if you notify the ATO of a mistake they're pretty lenient. If they find it out themselves and have to chase it up, they're not so nice.
You'll be fine honey xx

#6 ChunkyChook

Posted 26 January 2013 - 06:29 PM

Thanks for the replies. I was stressing out. Will let him know next Monday.






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