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WHAT IS REMISSION OF PENALTIES AND HOW CAN AN INDIVIDUAL REQUEST A REMISSION OF PENALTY?

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24
May

Now and then, you may find that you have been penalised by the Australian Tax Office (ATO) for misconduct. This misconduct may arise for not taking reasonable care in claiming a deduction to which you are not entitled or making a false or misleading statement. ATO imposes this so that the taxpayers take reasonable care in complying with their obligations. However, if you do not agree on this claim then you may ask ATO to remit it. For some penalties, you may object through the objection process.
You can ask for a reduction or cancellation of any penalty which includes the penalty for failing to:

  • Lodge documents on time; 
  • Withhold amounts as required (PAYG withholding system); 
  • Meet other tax obligations.

You can contact ATO about your request:

  •  Through the online Business or Tax Agent portal where you must be registered;
  • For small penalties and simple cases, you can contact by phone; 
  • By fax or mail to the address given in the letter advising you of the penalty.When you are requesting a review of a penalty, you need to include the following information: 
  • Your full name;
  • The name, postal address and contact number of a person ATO can contact about the request;
  • Your tax file number (TFN) or Australian business number (ABN);
  • The reference number from the letter advising you of ATO’s decision; 
  • The reasons you think it is fair and reasonable for ATO to remit the penalty in your situation.

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