You explain to Jonathan of the many ways in which to reduce his tax liability. Jonathan is
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Question:
You explain to Jonathan of the many ways in which to reduce his tax liability. Jonathan is most impressed by what you have told him and he pays a fee for your professional advice and then carries out your suggestions on tax minimisation. Unfortunately, you have misread the tax legislation and as a result Jonathan is audited by the Australian Taxation Office who then issues him with a tax liability of $600,000.00 plus interest.
Discuss what the consequences are to your group for giving Jonathan bad advice.
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