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  1. #1
    sundar57 is offline Newbie
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    Default Could anyone please correct this letter? [Request to accept revised tax return]

    Payment Arrangement and Revised Tax Return for 2012
    I refer to your letter dated 9/10/12 requesting me to pay a sum of $169,718.31 of which $65,664.40 being the tax on my income and $104,053.91 being PAYG and GST payables. I am not in a position to pay the whole amount immediately but I shall take every endeavour to pay the PAYG and GST portion of the debt in 24 monthly instalments if you please consider waiving off the interest and penalty amounting $ 9,169.91 charged on this debt which is an additional burden hindering the smooth ongoing of the business .

    I started this catering, a contract business in Jan 2011 and entrusted the accounts to an accountant who submitted my tax returns for the financial year 2012 to ATO. My accountant, when he submitted my tax incomes has indicated that I had made a profit of $191,473 before tax. This submission was made by my accountant on line and he had not made me aware of it.

    I had to prepare 6 meals for about 80-100 people each day. My purchases of food items account to about $5,000 per week and this amounts to about $260,000 per year whereas what is shown in the accounts submitted to you is $192,881. Due to a situation where I had been forbidden to access the work premises by the other party of the catering contract for few months and the other time I kept myself busy with the catering, I have lost or misplaced a large number of receipts of supermarkets in respect of food items purchased. There was not any single receipt kept for the month of, to my memory April or June 2012. Therefore the the amount about $68,000 spent on purchases of food items was missed out in the expenses. My Taxable income must have been reduced by this amount.

    Unfortunately the electronic backup copy of the accounts for 2012 financial year is not available in our system. I do not know whether the backups are with the accountant but I understand a copy has been lodged to ATO. I am a novice when it comes running a business and bookkeeping. All the time I have been busy with numerous things related to this catering and couldn't pay enough attention on the bookkeeping side. I have employed a bookkeeper now and in the future, I am confident that books are kept up to date to furnish all the accounts statements to ATO in time.

    Hence, this being the first time I have entered into a strenuous business of the type I am doing I shall thank you to consider my revised tax return which I attach herewith. I also request you to give an instalment payment option over a period of 24 months for the revised tax amount I owe ATO to be paid off.

  2. #2
    Gillnetter is offline Key Member
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    Default Re: Could anyone please correct this letter? [Request to accept revised tax return]

    Quote Originally Posted by sundar57 View Post
    Payment Arrangement and Revised Tax Return for 2012
    I refer to your letter dated 9/10/12 requesting me to pay a sum of $169,718.31, of which $65,664.40 being is the tax on my income, and $104,053.91 being PAYG and GST payables. I am not in a position to pay the whole amount immediately but I shall take make every endeavour to pay the PAYG and GST portion of the debt in 24 monthly instalments if you please would consider waiving off the interest and penalty amounting to $9,169.91 charged on this debt, which is an additional burden hindering the smooth ongoing operation of the my business.

    I started this catering business, a contract business, in Jan 2011 and entrusted the accounts to an accountant who submitted my tax returns for the financial year 2012 to ATO. My accountant, when he submitted my tax incomes has indicated that I had made a profit of $191,473 before taxes. This submission was made by my accountant on line and he had not made me aware of it (Does this mean that he submitted it via the Internet? If so, use "on-line").

    I had to prepare 6 six meals each for about 80-100 people each day. My purchases of food items account amounted to about $5,000 per week and this amounts to about $260,000 per year, whereas what is shown in the accounts submitted to you is $192,881. Due to a situation where I had been forbidden to access the work premises by the other party of the catering contract for a few months and the other time I kept myself busy with the catering business, I have lost or misplaced a large number of receipts of from supermarkets in respect of to food items purchased. There was not any a single receipt kept for the months of, to my memory, April or June 2012. Therefore, the the amount of about $68,000 spent on purchases of food items was missed out in the expenses. My taxable income must have been be reduced by this amount.

    Unfortunately, the electronic backup copy of the accounts for the 2012 financial year is not available in our system. I do not know whether the backups are with the accountant but I understand a copy has been lodged (sent or transmitted?) to ATO. I am a novice when it comes running a business and bookkeeping. All the time I have been busy with numerous things related to this catering business and couldn't didn't pay enough attention on to the bookkeeping side. I have employed a bookkeeper now, and in the future, I am confident that the books are will be kept up to date to furnish all the accounts statements to ATO in on time.

    Hence, this being the first time I have entered into a strenuous business of the type I am doing I shall thank you to consider my revised tax return which I attach herewith. I also request you to give me an instalment payment option, over a period of 24, months for the revised tax amount which I owe to ATO to be paid off.
    Gil

  3. #3
    sundar57 is offline Newbie
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    Default Re: Could anyone please correct this letter? [Request to accept revised tax return]

    Thanks Gil for your time and effort. Your help is appreciated very much. Wish you a happy new year!

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