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  #   012-070 - Tax Audits

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  Tax audits are an occupational hazard for small business operators. This paper outlines the purpose of a tax audit, which the Australian Taxation Office claims is to encourage voluntary compliance with the Taxation Laws by ensuring taxpayers pay the correct amount of tax - no more and no less. This ...[Read more](#hikashop_show_tabular_description)

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 Tax audits are an occupational hazard for small business operators. This paper outlines the purpose of a tax audit, which the Australian Taxation Office claims is to encourage voluntary compliance with the Taxation Laws by ensuring taxpayers pay the correct amount of tax - no more and no less.

This paper, presented in twelve pages, considers many of the issues under the following headings:

- Purpose Of A Tax Audit
- What Is A Tax Audit?
- What Is Involved?
- How Long Will It Take?
- Taxpayer’s Declaration
- Returns And Records
- Self Assessment
- Cross Checking
- Records That Should Be Kept
- Contact By An Australian Taxation Office Auditor
- What Are The Taxpayer’s Rights?
- First Meeting With Taxation Auditor
- Section 264 Notice
- Record Keeping Audits
- Content Of A Record Keeping Audit
- Standard Questionnaire For A Record Keeping Audit
- Report From Record Keeping Audit
- Business Audits
- Business Audits - Selection
- Score System Used By The Australian Taxation Office
- Taxpayer Information Profile System
- What Is The Tax Auditor Looking At?
- Common Business Deficiencies
- Target Of Business Audits
- Ratios Examined
- Lack Of Records
- Penalties