Considerable amount of potential tax

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Reference no: EM133589409

Question

Peter Smith has been involved in a dispute with the ATO, involving substantial amounts of what Peter believes are non-assessable amounts, but which the ATO regards as the proceeds of a tax avoidance scheme. The ATO has rejected Peter's objection against its assessment, and Peter is trying to decide whether to take the case to the AAT or Federal Court. The issue in dispute raises some interesting and difficult legal issues and has not previously been taken to court. There is a considerable amount of potential tax and penalties at risk.

Reference no: EM133589409

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