Partial penalty remission for GST shortfall

The Tax Office has released a Decision Impact Statement on the decision in AAT Case [2007] AATA 1026, Re Keitac Pty Ltd ATF McNamara Property Development Trust and FCT. The case was concerned with whether an administrative penalty for lack of reasonable care was properly imposed and whether the penalty should have been remitted in full or in part. The Tax Office said the commissioner accepted that the decision to partially remit the penalty was one that was open to the Tribunal on the facts of the case.