VIC KPMG Audit of Family Trust - Help?

Discussion in 'Commercial Law Forum' started by Skateboard, 4 November 2018.

  1. Skateboard

    Skateboard Well-Known Member

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    My family trusts were investigated by the Australian Taxation Office, the ATO delt with solicitors appointed by my brother and the accountant who set up the family trusts and also delt with the ATO enquiries. I made some enquiries with the ATO investigator who I provided a statement to and who also served me with an ATO notice to provide documents which I did.

    The investigator has since informed me that the accountant was ordered by the ATO to provide all trust documents to KPMG. I am not an accountant and I have just gone along with my brothers and accountants requests to sign documents as requested. When ever I have queried what I signed my brother told me not to ask questions and that they were professionals and new what they were doing.

    Why has KPMG now got the family trust file? Can I get a copy of the file from KPMG as I am a family trust member? Can the ATO ask the accountant to give the family trust documents to KPMG? I asked a friend of a friends CPA about this and she said that there could be major issues is this true.
     
  2. Rob Legat - SBPL

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    Simple answers are:

    - probably to do a forensic audit of tax payments for either the trust or its beneficiaries, or both.
    - depends on your actual relationship to the trust (family trusts don’t have ‘members’). You should be able to get a copy from the trust’s accountants. I wouldn’t be asking KPMG for a copy.
    - yes.
    - yes. For the ATO to engage outside assistance, i.e. KPMG, I’d say they’re thinking there is potentially serious tax issues to investigate.

    Given that you’d just sign things when told to, I’d say that you have some position of authority with the trust. And that means you could be on the hook at some stage. You should consider seeking some legal advice from a lawyer who specialises in tax matters.
     
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  3. Skateboard

    Skateboard Well-Known Member

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    My brother has taken out an IVO. One of the conditions is that I am not allowed to contact his business associates i.e the family trust accountant so I can't contact her directly or indirectly. I have sent KPMG a request to contact me and consider giving me a copy.
     
  4. Skateboard

    Skateboard Well-Known Member

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    My brother also managed to have our business documents listed as private and confidential in a Victorian Supreme Court so I can't access these.
     
  5. DMLegal

    DMLegal Well-Known Member

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    Your situation sounds quite serious, you should seriously consider obtaining professional legal advice, you're not going to be able to manage this matter self-represented.
     
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