Note: A Commissioner ' s Remedial Power modification is relevant to this part of the tax law. Taxation Administration (Remedial Power - Remission of Charges and Penalties) Determination 2023 (F2023L00956) modifies the operation of s 298-20(1) in Sch 1 to the Taxation Administration Act 1953 , to the extent it applies to penalties arising under s 286-75 in Sch 1 to the Taxation Administration Act 1953 , and any other provisions of a taxation law whose operation is affected by the modified operation of s 298-20(1) in Sch 1 .

The operation of the relevant provision is modified as follows:

For the purposes of s 370-5 in Sch 1 to the Taxation Administration Act 1953 , s 298-20(1) of Sch 1 to the Taxation Administration Act 1953 is modified to permit the Commissioner to remit the general interest charge, shortfall interest charge or an administrative penalty, as applicable:

(a) in relation to:

(i) an entity; or

(ii) one or more entities in a relevant class; and

(b) whether or not the charge or penalty:

(i) has become due and payable; or

(ii) may become due and payable in the future.

An entity must treat a modification as not applying to it or any other entity if the modification would produce a less favourable result for it. The Commissioner is empowered by s 370-5 in Sch 1 to the Taxation Administration Act 1953 to make modifications, by legislative instrument, to ensure the law is administered to achieve its intended purpose or object.