Now that it is in dispute wouldn't interest payments be frozen? Also I think it is logical that from the time that the ATO advised CFE that they are doing an audit is the time when under payments should no longer attract interest. Otherwise the ATO can take years and years to do their audit and claim interest over the entire period - Unfair and Rubbish I say.
The other issue for the Australian Taxpayer and the ATO is that as everything is in dispute do CFE need to lodge an income tax return this year or next or the following without it being clear of what should have happened in the past and what they can and cannot claim for?
If there is a mistake in the past and the deduction is in the wrong timeframe and should be claimed this year but isn't because the matter isn't cleared up then every tax return will be incorrect. Therefore I think CFE should retain all the cash in their accounts, the interest calculations to the ATO should cease and no returns submitted until this is cleared up completely.
But then again I guess they might have legislation against common sense as well.
CFE Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
