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26 Feb 15 IT 2521 (power of remission of additional tax) withdrawn

On 25 February 2015, the ATO withdrew IT 2521 entitled "Income tax: power of remission of additional tax imposed under Part VII and former section 226 of the Income Tax Assessment Act ."

Notice of withdrawal IT 2521W states:

"The Ruling is about:

  • former subsection 226(3) of the ITAA 1936, and
  • former subsection 227(3) of the ITAA 1936,

which were repealed in 2000.

...This Ruling is withdrawn as PS LA 2012/5 which issued on 23 August 2012 now outlines the current penalty laws."


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