Skip to main content
shopping_cart

Your shopping cart is empty

14 Jun 12 Neither taxpayer nor his accountants acted recklessly - JCZC

The AAT has set aside the Commissioner's objection decision in relation to a penalty notice issued to the taxpayer imposing an administrative penalty, based on the recklessness of the taxpayer and its accountants, of 50% of the shortfall amount arising from a disallowed claim by the taxpayer of deductions for expenditure in relation to a yacht. However, the AAT affirmed the Commissioner's objection decision imposing an administrative penalty of 25% of the shortfall amount, after a concession by the taxpayer that it did not have a reasonably arguable position.

JCZC and FCT [2012] AATA 348 (AAT, Dunne SM, 12 June 2012).

 


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