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15 Mar 10 Decision Impact Statement - Burness

The ATO has published a Decision Impact Statement in relation to the decision of the Federal Court in FCT v Paul Andrew Burness & Anor (As Trustee for the Property of Robert Bottazzi, A Bankrupt) [2009] FCA 1021; 2009 ATC 20-135. The case concerned whether the AAT erred in exercising its discretion under s 227(3) of ITAA 1936 to remit a tax shortfall penalty. The ATO view of Decision is that the Federal Court applied the correct principles to find that the AAT had not taken irrelevant considerations into account in exercising the discretion to remit shortfall penalty imposed. Those principles are consistent with the ATO view on how the exercise of the remission discretion is currently administered.

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