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Schemes and penalties: Not always hand in hand

Taxation in Australia | 1 Jun 08
 
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Published on 01 Jun 08 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

This article examines the difference in application between the old scheme penalty provisions and the new scheme penalty provisions and looks at the importance a taxpayer’s subjective intent has when determining whether to apply a penalty in relation to a scheme.

Author profiles

Craig Jackson CTA
Craig Jackson, CTA, is a Partner in Ernst & Young Tax Controversy & Policy Practice, holding qualifications in both Economics (accounting) and Law from the University of Sydney. He has more than 35 years’ experience focused on dealing with the ATO on a range of active compliance processes, holding qualifications as a Charted Tax Advisor, a Fellow of Chartered Accountants ANZ and practising Solicitor admitted in NSW. He is a member of the International Fiscal Association and the Law Council Business Law Section Tax Subcommittee. Craig has been actively involved in assisting a range of clients with ATO audits and review. These include domestic companies and multinationals and high wealth individuals. Issues include transfer pricing; financing structures; disputes on re-organizations and Capital Gains Tax among others. He also has experience as part of EY’s Tax quality network in assisting staff and partners deal with a range of tax quality issues and questions. - Current at 26 July 2023
Click here to expand/collapse more articles by Craig JACKSON.
Timothy Dalton
Tim is a Senior Consultant, Tax Controversy, with Ernst & Young. - Current at 01 June 2008
Click here to expand/collapse more articles by Timothy DALTON.

 

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