ATO Depreciation Non-Compliance
Definition
Inaccurate asset audits and valuations in Test Asset Management expose firms to ATO penalties during BAS lodgement and tax audits.
Key Findings
- Financial Impact: AUD 11,115+ per serious contravention (ATO penalty units at AUD 370/unit in 2025)
- Frequency: Per tax audit or BAS lodgement error
- Root Cause: Incomplete asset audits without systematic tagging and monitoring
Why This Matters
The Pitch: IT System Testing firms in Australia 🇦🇺 face AUD 20,000+ fines per ATO audit for asset mismanagement. Automated tracking ensures compliance.
Affected Stakeholders
CFO, Asset Manager, Accountant
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
Unbilled Test Assets
Manual Asset Audit Costs
Idle Test Asset Capacity
ISO 27001 Non-Compliance Fines
Compliance Audit Outsourcing Costs
Certification Downtime Bottlenecks
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