Taxation Laws Amendment Act (No. 3) 1999 (11 of 1999)
Schedule 1 Running balance accounts, general interest charge and related matters
Part 1 Amendments
Income Tax Assessment Act 1936
148 Section 221N
Repeal the section, substitute:
221N Remission of penalty
(1) The Commissioner may remit all or a part of the penalty a person is liable to pay under subsection 221EAA(1).
(2) The Commissioner must give written notice to the person if the Commissioner decides:
(a) to remit a part only of the penalty; or
(b) not to remit any part of the penalty.
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