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  • Make a voluntary disclosure

    When you tell us about any false or misleading information or mistakes or omissions in returns or statements you've lodged, we generally refer to it as a 'voluntary disclosure'.

    You can review your affairs and make a voluntary disclosure about any shortfall amount or scheme shortfall amount, or the false or misleading nature of any statement.

    Making a voluntary disclosure may enable you to correct your tax affairs if, for example, you have not disclosed income or have claimed deductions you weren't entitled to, or made other statements in relation to your affairs that were false or misleading.

    However, if we have informed you that we are going to conduct an examination in relation to a particular accounting period, you can no longer use all channels to make a voluntary disclosure for that period. You will need to disclose any errors to the tax officer conducting the review or audit.

    If you make a voluntary disclosure you can generally expect a reduction in the administrative penalties and interest charges that would normally apply.

    Any such reduction depends on when you tell us about the correction. Generally, the reduction is greater if you make the disclosure before we notify you of an examination. You'll have to pay any tax you owe and may have to ask us for any interest concessions. You can object to an assessment you believe is incorrect or ask for it to be reviewed, even when the assessment relates to your voluntary disclosure.

    You do not have to admit liability when you make a voluntary disclosure.

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    Last modified: 27 Oct 2016QC 33800