Tax Office guidance on promoter penalty provisions - any cause for concern for tax advisers?
19 Apr 07 |
CCH TAX WEEK
Issue: Issue 15 2007
The promoter penalty laws apply to prohibited conduct on or after 6 April 2006. The Tax Office has now issued two draft practice statements dealing with the promoter penalty, namely application in relation to tax exploitation schemes and application to schemes in relation to product rulings. This article will focus primarily on the draft practice statement as it applies to tax exploitation schemes.
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Michael is Associate Professor of Law at the University of Western Sydney.
- Current at
01 February 2015