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28 Aug 06 Promoter penalty interim administration arrangements

The ATO has published interim administration arrangements to apply for the promoter penalty measures from the period of Royal Assent (6 April 2006) until final ATO administration guidelines are published.

The ATO states that where potential application of the new promoter penalty laws is identified (for example during risk and intelligence, active compliance or advice activities) by an ATO officer, advice is to be sought and approval is to be obtained from the Promoter Taskforce prior to the matter being raised with a taxpayer, their representative, a promoter or other external party. The Promoter Taskforce will provide a regular report to the Deputy Commissioner, Aggressive Tax Planning, on potential cases referred from business lines or those identified through risk and intelligence processes. Decisions to apply the provisions will be made at a high level with the support of advice from counsel and recommendations for the application of the provisions are to be escalated to the Deputy Commissioner, Aggressive Tax Planning.

For a copy of the interim administration arrangements, go here

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