Taxation Ruling

IT 2475W - Withdrawal

Income tax: imposition and remission of additional (penalty) tax for late lodgment of income tax returns

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

FOI status:

may be released

Notice of Withdrawal

Taxation Ruling IT 2475 is withdrawn with effect from today.

1. Taxation Ruling IT 2475 provides guidelines for the calculation of the additional tax imposed under former section 222 of the Income Tax Assessment Act 1936 (ITAA 1936) for the late lodgment or non-lodgment of income tax returns, and also for the exercise of the Commissioner's discretion under former subsection 227(3) of the ITAA 1936 to further remit the statutory penalty imposed.

2. A uniform administrative penalty regime was introduced for the 2000-2001 and later income years, contained in Part 4-25 of Schedule 1 to the Taxation Administration Act 1953. The penalties relating to late lodgment or non-lodgment of income tax returns are now calculated on a different basis to that under former section 222 of the ITAA 1936.

3. Accordingly, this Ruling is no longer current.

Commissioner of Taxation
1 November 2006

References

ATO references:
NO 2005/18404

Related Rulings/Determinations:

IT 2475