Administration CP - Remission of Penalty Tax - Late or Non-lodgment

This Commissioner’s practice outlines the circumstances in which penalty tax will be remitted in respect of an assessment made as a consequence of the late or non-lodgment of returns, transaction records, acquisition statements, instruments and dutiable statements, including any reassessment as a consequence of the late or non-lodgment of a transaction record evidencing an increase in consideration after duty has been endorsed.