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ARTICLE · 15 JUNE 2015

Challenging a statutory demand from the ATO based on a Running Balance Account

Cooper Grace Ward
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The statutory demand was expressed as a single amount, a total deficit debt as stipulated on a Running Balance Account.

AustraliaFinance and Banking
Graham Roberts
Graham Roberts
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It is common for the Commissioner of Taxation to issue a statutory demand against a company and express the debt as a single amount, being the total deficit debt stipulated on a Running Balance Account (RBA). No breakdown is provided in the statutory demand showing the actual composition of the debt as between primary taxation obligations.

Usually the schedule to the statutory demand describes the RBA deficit debt as being due under the BAS provisions, which are identified generally as including provisions relating to GST, PAYE, fringe benefits tax and deferred company instalment provisions. The schedule also refers to administrative penalties and general interest charges.

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