Skip to main content
shopping_cart

Your shopping cart is empty

10 May 12 Administrative penalties: voluntary disclosures - MT 2012/3

On 9 May 2012, the ATO issued Miscellaneous Taxation Ruling MT 2012/3 entitled "Administrative penalties: voluntary disclosures". It was previously released in draft form as MT 2011/D3.

The Ruling outlines the Commissioner's interpretation of s 284-225 of Schedule 1 to the Taxation Administration Act 1953 (TAA). Specifically, it outlines the circumstances under which:

  • a penalty otherwise attracted will be reduced to nil;
  • a penalty otherwise attracted will be reduced by 80%; and
  • a penalty otherwise attracted will be reduced by 20%.

The Ruling also outlines the Commissioner's interpretation of some of the important concepts in s 284-225 of Schedule 1 to the TAA.

When the final Ruling is issued, it is will apply to voluntary disclosures made on or after 4 June 2010.

 


Media Release Search
Keywords
Eg. TD 2005/D52 ALL words EXACT phrase WITHOUT words Date range
From To