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Federal Court overturns penalty decision

Engaging and retaining a qualified tax agent has helped a taxpayer succeed in the Federal Court in proving he had taken reasonable care, thus avoiding any penalties, despite failing on the issue of primary tax.

Federal Court overturns penalty decision
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  • Shared by Accountants Daily
  • September 03, 2019
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In a recent Federal Court case, Sole Luna Pty Ltd as Trustee for the PA Wade No 2 Settlement Trust v Commissioner of Taxation [2019] FCA 1195, the court allowed a taxpayer’s appeal against a penalty imposed by the commissioner to stand, agreeing that the taxpayer and their tax agent had taken reasonable care in the making of statements to the commissioner.

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