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The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
READ MOREAAT reduces penalties for reckless claims based on incorrect tax agent advice
A support worker has succeeded in reducing shortfall penalties for reckless deductions after the tribunal found that he would not have claimed over $13,000 in education and loan expenses if not for his tax agent’s advice.
The Administrative Appeals Tribunal has agreed to remit taxpayer Ahamed Munkayilar’s $6,065 administrative penalty by 85 per cent after finding that he made a genuine attempt to meet his tax obligations despite recklessly including false and misleading statements in his tax return.
Read more at Accountants Daily.
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