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08 Aug 088 ATO Short Fall Penalty workshop

Jeremy Hirschhorn FTIA (KPMG) and Michael Dirkis FTIA represented the Taxation Institute at an ATO workshop on Tuesday 5 August 2008 to discuss the three draft Miscellaneous Taxation Rulings on the penalties, published on 14 May 2008 (see 2008 TAXVINE No 19 (15) (16 May 2008)). The ATO had representatives from Active Compliance, Large Business and International, Small and Medium Enterprises, Tax Council Network and the Centres of Expertise. It was a very fruitful meeting which discussed a number of issues arising from the draft Rulings including:

  • Risk review and audit practices;
  • The definition of “tax audit” – its scope;
  • The Commissioner’s discretion in MT 2008/D3;
  • The alignment or otherwise of publications, tax rulings, and practice statements;
  • Suggestions for “fixes” & other improvements;
  • Meaning of voluntary and making a voluntary disclosure (nature and extent of disclosure); and
  • The date of effect for the final rulings.

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