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The ATO has published a Decision Impact Statement in relation to the decision of the AAT in Kocic and FCT [2011] AATA 47; (2011) ATC 10-174.

The case concerned undisclosed income, penalties and whether the distributable surplus of a company for an income year is reduced by taking into consideration a general interest charge on pre-existing taxation debts. The decision was adverse to the Commissioner in a number of respects; accordingly, the assessments were set aside as excessive and the matter was remitted to the Commissioner to issue amended assessments in accordance with the AAT's reasoning.

The ATO is reviewing TD 2007/28 and TD 2008/28 following the decision of the AAT in this matter and the decision of the Full Federal Court in FCT v H [2010] FCAFC 128.


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