FNSACC512 Prepare Tax Documentation For Individuals - Assessment 17

Task 2 – Audit Activity

Mr. Jack Cashman (senior) of 100 George Street Sydney 2000 lodges his own returns and does not have a tax agent. On 1 February 2018, he received an amended assessment for the year ended 30 June 2016 from the Commissioner of Taxation as a result of an ATO audit.

The amended assessment included an amount of $6,500 omitted interest from an account No 246810 held at the St George Bank in Market Street. The amended assessment imposed an amount of $3,500 additional tax and penalties.

Mr. Jack Cashman has checked his records and has ascertained that this bank account does not belong to him and he does not have any accounts at that Bank. However, he knows that his son who has the same name as himself i.e. Mr. Jack Cashman (junior) and who lives at the same address as himself does have accounts at that branch and he suspects that the account really belongs to his son.

Required:
Advise Mr. Cashman (senior) of his objection rights indicating what steps he has to take to ensure that the objection is valid.