ALL QUESTIONS NEEDS TO BE ANSWERED UNDER AUSTRALIAN TAXATION RULES

s. Returns and Assessments - Commissioner's powers of access Smali Business Pty Limited, a firm of investment advisors, received a pnone ca indicating that the ATO had commenced audit activity and would be attending ther offices to obtain and review data concerning their 2015/16 income tax return The company's Registered Tax Agent was not notified and the directors were told hat they were not permitted to seek any further advice on the matter. The officers arrived at the firm's premises. Although they indicated that they were ATO officers, they had left their identification in a nearby restaurant and were unabke to produce proof of authority. While on the premises, the officers seized bank records of the company, a list of all of the firm's dients and several of the dient's files detailing private investment portfolios. These records were taken back the ATO and no receipt was Issued. The officers interviewed the company's directors but refused to provide a record of the interview. s. Returns and Assessments - Commissioner's powers of access Smali Business Pty Limited, a firm of investment advisors, received a pnone ca indicating that the ATO had commenced audit activity and would be attending ther offices to obtain and review data concerning their 2015/16 income tax return The company's Registered Tax Agent was not notified and the directors were told hat they were not permitted to seek any further advice on the matter. The officers arrived at the firm's premises. Although they indicated that they were ATO officers, they had left their identification in a nearby restaurant and were unabke to produce proof of authority. While on the premises, the officers seized bank records of the company, a list of all of the firm's dients and several of the dient's files detailing private investment portfolios. These records were taken back the ATO and no receipt was Issued. The officers interviewed the company's directors but refused to provide a record of the interview