AAT reduces penalties for reckless claims based on incorrect tax agent advice

A support worker has succeeded in reducing shortfall penalties for reckless deductions after the tribunal found that he would not have claimed over $13,000 in education and loan expenses if not for his tax agent’s advice.

by Shared by Accountants Daily | 19 Aug, 2021

The Administrative Appeals Tribunal has agreed to remit taxpayer Ahamed Munkayilar’s $6,065 administrative penalty by 85 per cent after finding that he made a genuine attempt to meet his tax obligations despite recklessly including false and misleading statements in his tax return.