Taxation Ruling

IT 2521W

Income tax: power of remission of additional tax imposed under Part VII and former section 226 of the Income Tax Assessment Act.

• Please note that the PDF version is the authorised version of this withdrawal notice.

Notice of Withdrawal

Taxation Ruling IT 2521 is withdrawn with effect from today.

1. The Ruling provides guidelines for the application of the judgment in Deputy Commissioner of Taxation v. Mostyn (1987) 18 FCR 260; 87 ATC 5056; (1987) 19 ATR 588 to other cases, particularly for processing remission of additional tax under former subsections 226(3) and 227(3) of the Income Tax Assessment Act 1936 (ITAA 1936).

2. 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which were repealed in 2000.

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 This Ruling is withdrawn as PS LA 2012/5 which issued on 23 August 2012 now outlines the current penalty laws.

Commissioner of Taxation
25 February 2015

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-699G7SM