Miscellaneous Taxation Ruling

MT 2008/1ER - Erratum

Penalty relating to statements: meaning of reasonable care, recklessness and intentional disregard

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Erratum

This Erratum is a public ruling for the purposes of the Taxation Administration Act 1953. It corrects Miscellaneous Taxation Ruling MT 2008/1 to correct a quote from the Federal Court of Australia case BRK (Bris) Pty Ltd v. Federal Commissioner of Taxation [2001] FCA 164; 2001 ATC 4111; (2001) 46 ATR 347 (BRK) and to correct some references.

Miscellaneous Taxation Ruling MT 2008/1 is corrected as follows:

1. Paragraph 102

After 'incorrect'; insert ', or be grossly indifferent as to whether or not the material is true and correct'.

2. Footnote 2A

Omit 'Tax Laws Amendment (2010 Measures No 1) Bill 2010'; substitute 'Explanatory Memorandum to the Tax Laws Amendment (2010 Measures No. 1) Bill 2010'.

3. Legislative references

Insert:

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TAA 1953 Sch 1 286-75(1)

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TAA 1953 Sch 1 Div 358

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Tax Agent Services (Transitional Provisions and Consequential Amendments) Act 2009

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Tax Laws Amendment (2010 Measures No. 1) Act 2010

4. Other references

Insert:

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Explanatory Memorandum to the Tax Laws Amendment (2010 Measures No. 1) Bill 2010

This Erratum applies on and from 12 November 2008 for the correction due to the BRK case and on and from 1 June 2011 for all other corrections.

Commissioner of Taxation
7 March 2012

References

ATO references:
NO 1-3QRP945