Business Services Industry
[1302] Director penalty liability: ATO Decision Impact Statement.
Australasian Business Intelligence, July, 2007
Byline: Lisa Mak
Jul 16, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office has released Decision Impact Statement in "Eaton & Ors v DCT". The court rejected an argument of the appellant taxpayers that a Deed of Company Arrangement extinguishes a director penalty liability for the purposes of section 222AOH of the Income Tax Assessment Act (ITAA) 1936. The ATO said the decision confirms the Commissioner's view that a Deed of Company Arrangement cannot be used as a mechanism for directors to avoid the operation of the director penalty provisions contained in Part VI, Division 9, Subdivision A of the ITAA 1936.
Publication Date: 6 July 2007
AUSTRALIAN TAXATION OFFICE
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