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Abn

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  • 22-03-2017 10:26am
    #1
    Joecav
    Registered Users Posts: 1 ✭


    I was working in oz for a year. I used a tfn and Abn while working but l left before paying tax on my Abn! Will I get into trouble if I go back


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    #2
    AngryHippie
    Registered Users Posts: 2,625 ✭✭✭AngryHippie


    possibly.
    Worst they can do is send you a bill and you'll have to pay what you owe with interest.

    Keep in mind the ATO have no statute of limitations. (that I'm aware of)

    How long ago was it ?
    How much had you earned on your ABN ?
    It might land under the threshold.

    I would definitely touch base with a tax accountant on the QT with any information you have and get a return ready to submit.

    Your tax would have been withheld on the TFN in any case, so that shouldn't be too risky unless the combined income from the ABN popped you over a threshold, in which case there could be a bill.

    Presuming you have nothing in the way of receipts for any expenditure related to the ABN, do you at least have a record of the invoiced totals earned under ABN ?

    If not, it could be very hard for you to do much about it.

    Get in touch with your accountant, if you don't have one, get one before you come back as you will most likely be getting some correspondence from the ATO once you get data matched back to the TFN and ABN.

    It won't be trouble in the form of cops or major hassles, just some strongly worded good advice about getting tax complaint before they do it for you.

    Best of luck.


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