Going through an audit is very mentally taxing and it can be difficult not to get upset at the results. There are going to be times where the auditor has made mistakes. If you are looking at an audit report and you see that there are many discrepancies, then you do not just have to give up and accept your fate. This situation is very important to your financial wellbeing, so you definitely want to take it as seriously as possible.
Many people do just give up after having a bad audit performed. The auditor moves on to the next case and you are left having to pay a debt that isn’t quite accurate. Things do not have to turn out like this if you know what to do. You can make the decision to dispute the audit results by filing a claim. You need to write an ATO objection letter to get the process started.
Writing the Letter
One of the biggest reasons why people just give up after receiving a bad audit is that they don’t know how to go about writing the objection letter. One of the best things that you can do is look up an ATO objection letter example. It can give you a good idea of the type of information that you need and you will be able to follow it as a template. This letter is going to be the major starting point of disputing the audit that you received, so it is absolutely imperative to get it right.
You should also know that you do not have an abundance of time to act. There is a time limit when it comes to being able to send in an objection letter. Some of the audits will have a 60-day period where you can dispute the results. Others will have time periods that are as short as 21 days. The best thing for you to do is assume the shortest period of time so that you won’t make any mistakes.
To object properly, you need to get that objection letter sent in on time. Remember that you don’t want to put a lot of fluff in this type of letter. It needs to be straightforward and to the point and full of the facts that you are trying to present. Ensure that you use the proper form to write this letter and reference legislation that helps your position when possible. If you are able to do all of this, then you should be able to move to the next phase of the objection.
Overturning the Results
Overturning the audit results can take time, but your ATO objection letter is the big first step. You may feel intimidated by this process, but you need to try to stay calm and collected. Using examples to help write your objection letter will make things easier. You just have to remember to get things finished within the deadline and everything will turn out okay. Do your best to get things right and you can get the results that you are seeking.
