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05 Jul 07 Miscellaneous taxes: does failure to lodge penalty increase where previous penalty? - MT 2007/1

This Miscellaneous Taxation Ruling was issued on 4 July 2007. This Miscellaneous Ruling finalises TD 2007/D4. Its full title is "Miscellaneous taxes: does s 284-220(1)(e) of Schedule 1 to the Taxation Administration Act 1953 apply to increase the base penalty amount applicable to a s 284-75(3) penalty where the entity was liable to the same penalty for a previous accounting period?"

Section 284-75(3) imposes a liability to an administrative penalty if a person fails to lodge a return, notice or other document which is necessary to determine a tax-related liability, and the Commissioner determines the tax-related liability without the assistance of that document.

The Ruling states, at para 2: "Where a penalty is imposed under s 284-75(3) of Schedule 1 to the Taxation Administration Act 1953 1 for an accounting period, s 284-220(1)(e) applies to increase the base penalty amount by 20% if a penalty was imposed under that subsection for a previous accounting period."

For a copy of MT 2007/1, go here

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