Case Scenarios
Perseverance Pays Off
Situation
The clients are a husband and wife from Melbourne. Together, they started their own business within the building industry.
At ages 2 and 3, both their children were diagnosed with severe health issues which impacted their day-to-day life and essentially, changed the way they could work forever. In 2012, they both quit their jobs and established their own business so they could work from home and balance the care of their children.
During COVID-19, the building industry took a massive hit. Lockdowns had a drastic and immediate effect on the business’ income stream. Additionally, their children’s health continued to deteriorate which created a sense of hopelessness and despair for the clients, and they struggled to remain emotionally stable.
This compromised the clients’ ability to focus their time and energy on their taxation obligations.
Strategy
We conducted an analysis on each client’s accounts and found that their combined tax debt comprised of $500,000 of General Interest Charges (“GIC”).
TDSA met with the clients and learned about their circumstances in much more detail. We prepared 2 comprehensive and evidence supported applications for a remission of the GIC. Shortly after, we were notified that they had refused the applications.
TDSA spent months negotiating with the ATO and advocating for the clients.
Success
After a lengthy time of discussing the clients’ case with the ATO and the unjust refusal, we received a phone call from an ATO officer advising us that they had reviewed both applications again and a full remission of over $500,000 of GIC for both entities.
The clients were rejoiced at TDSA efforts and the ATO’s willingness to overturn their previous decision. The months spent negotiating with ATO staff was well-rewarded and it was gratifying to see the situation remedied.
The successful remission of GIC placed the clients in a position to meet all future ongoings and prioritise their family business.