Original article by Neil Chenoweth
The Australian Financial Review – Page: 1 & 6 : 9-Oct-18
The Australian Taxation Office is questioning the use of legal professional privilege by companies and their advisers. Tax Commissioner Chris Jordan stated in March that the ATO’s views of what constitutes professional privilege seem to differ from those held by taxpayers and their advisers. Deputy commissioner Mark Konza has stated that when he sought to audit the tax affairs of one company, every document he sought access to was claimed to be the subject of professional privilege. The ATO may seek to impose tax promoter penalties on large accounting firms like KPMG and PwC over their role in the promotion of schemes that seek to avoid tax.
AUSTRALIAN TAXATION OFFICE, KPMG AUSTRALIA PTY LTD, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, ERNST AND YOUNG, DELOITTE TOUCHE TOHMATSU LIMITED, GLENCORE PLC, APPLE INCORPORATED, FACEBOOK INCORPORATED, MICROSOFT AUSTRALIA, CHEVRON AUSTRALIA PTY LTD