Purpose of a Taxation Lawyer
The Australian laws dealing with taxes can be a very complicated and confusing subject. Tax compliance can change drastically depending on the situation of the individual, business, or organization involved. Additionally, the constant legal changes often require getting some expert tax legal help to avoid inadvertently breaking the laws.
At Irish Bentley, we have an experienced team of tax rights lawyers who can assist and advise you no matter what your situation is. There are many taxation lawyer companies, but ours is truly dedicated to providing you with the highest quality service.
Taxes are paid to the Australian government for a wide variety of reasons. Among other things, they support public services, infrastructure, and assist with the redistribution of wealth. Most people only think of the most common types, but a taxation lawyer can help you correctly pay for any and all others for which you may qualify.
Many of the funds are collected and eventually distributed among local, state, and federal governmental bodies. On the other hand, income taxes make up the largest form of tax payments in Australia, but they are only collected by the federal government. The personal income taxes are based on the income received by each individual, and they differ from many other developed countries because they aren’t determined by the family unit, but on an individual level.
Additionally, Australia also has the Goods and Services Tax (GST), and this is basically a value added tax which is imposed at a rate of 10% on nearly all goods and services that are paid for. The tax is taken from all parties involved in the sale and production, but it is designed to then be refunded to everyone except the final customer making the purchase. However, these sorts of systems increase the complexity of tax compliance and increase the need to hire a taxation lawyer for tax legal help.
While income tax and GST are the two largest tax segments in Australia, there are numerous other payments that are extremely common. For example, whenever disposing of an asset, you are likely to have to pay a Capital Gains Tax. Also, corporate taxes are obviously highly complex and strictly enforced. Property taxes are collected from all levels of government, and they vary significantly depending on the details of the property. Additionally, there are import/export taxes and taxes imposed on any sort of benefits provided to individuals.
The Australian Tax Office has a reputation for not being afraid of individuals with significant assets or large companies. They typically will pursue these cases when investigating tax compliance issues, and they have the legal system on their side.
Save Money with Tax Rights Lawyers
Because of all the various tax laws listed above, it can be extremely difficult to keep up with changes and make sure that you are making all the necessary payments on time. As a result, if you don’t get the assistance of a taxation lawyer, you could potentially face many risks. Most people are afraid of not making their payments, but an equally large fear should be about paying too much. The government has motivation to investigate and impose penalties on those who don’t pay the proper amount of taxes, but they are much less inclined to put the same amount of work and stop overpayments that are given to them. Therefore, using the services of tax lawyers companies can help you make sure that you have not overpaid, and this can result in a significant amount of savings over long periods of time.
Assistance from a Tax Problem Lawyer
On the other hand, mistakenly paying too little, sending it too late, or completing any other form of tax error can result in serious penalties. The process of dealing with the ATO can be extremely time consuming, and can often go on for years. This can be difficult and damaging to your business, and can be devastating if it is against your personal tax situation. Therefore, we highly recommend enlisting tax rights lawyers if you find yourself in any sort of situation where you are being challenged by the tax authorities. The knowledge of an experienced taxation lawyer can make your situation far less drastic, can help it come to an end much faster, and can keep costs paid to the government (as well as money lost during the process) at a much lower amount.
For all matters concerning taxation law, contact our Brisbane Tax Lawyers at Irish Bentley Lawyers today.