Notice of Withdrawal
Miscellaneous Taxation Ruling MT 2008/3 outlines the Commissioner's interpretation of section 284-225 of Schedule 1 to the Taxation Administration Act 1953 (TAA) and provides guidelines on how the discretion in subsection 284-225(5) of Schedule 1 to the TAA may be exercised.
Section 284-225 of Schedule 1 to the TAA was significantly amended by the Tax Laws Amendment (2010 Measures No. 1) Act 2010 , with effect from 4 June 2010. Part 6 of Schedule 6 to that Act extended the administrative penalty regime in Division 284 of Schedule 1 to the TAA to false or misleading statements that do not result in a shortfall amount. This required consequential amendments throughout Division 284 of Schedule 1 to the TAA, including section 284-225 of Schedule 1 to the TAA.
Accordingly, this ruling is no longer current. The issues covered in MT 2008/3 are now covered by Draft Miscellaneous Taxation Ruling MT 2011/D3, which issued today.
However, MT 2008/3 will continue to apply to voluntary disclosures made before 4 June 2010.