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Ask Leon Your Own Question
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44631
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Just received a notice from ATO concerning tax returns on a

Customer Question

Hello, just received a notice from ATO concerning tax returns on a business I ran in the 1990s, but which folded with significant losses and no way to conitnue sustaining business operations. No records still kept after all this time. Question concerns statutes of limitations, which is the information I'm presently searching for.
JA: What are the exact charges, and where does the matter stand as of now?
Customer: No specified amount at this stage. The notification requires me to lodge activity statements, to which effect about 30 BAS forms were enclosed.
JA: Because laws vary based on location, what state are you in?
Customer: WA. Was in Victoria at the time I operated the business.
JA: Anything else you want the lawyer to know before I connect you?
Customer: Don't know enough to guess what else might be required.
Submitted: 10 months ago.
Category: Australia Law
Expert:  Leon replied 10 months ago.

My name is ***** ***** I am a NSW Solicitor. I will do my best to assist you with your question.

Expert:  Leon replied 10 months ago.

Good Morning.

You will have to provide evidence to them of you no longer trading and when the business folded. You are only liable to keep your records for 5 years.

There was no BAS to be lodged in the 1990's the GST came in in 2000.

If you did not lodge returns there is no limitation period and they can sue you.

If you have lodged them, you advise them that it was lodged and if you had an accountant assist you then he can deal with this.

The limitation period applies if you owe them money and have lodged the return and they issued an assessment. If you had not lodged any returns then there is no limitation period.

I hope this makes sense and is of assistance If there is nothing further

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