Hart v Commissioner of Taxation (No 4) [2017] FCA 572

INCOME TAX – appeal by taxpayer from objection decision disallowing objections to notice of assessment and notice of amended assessment – where Commissioner determined two amounts should have been included in applicant’s taxable income for the 1997 income year – applicant taxpayer was a principal of a law firm with a tax advice practice – applicant taxpayer had filed a tax return for total taxable income of $100 for the relevant year – whether first amount should have been included in taxpayer’s assessable income per ss 95A(1), 97 and 101 and/or Part IVA of the Income Tax Assessment Act 1936 (Cth) – whether the second amount should have been included in taxpayer’s assessable income per Part IVA – whether penalties imposed by Commissioner ought be remitted or reduced – where appeal limited to one income year as a test case – held: taxpayer failed to demonstrate that assessments were excessive, ss 95A(1), 97 and 101 applied to first amount, Part IVA applied to both amounts, penalties ought not be remitted or reduced. Click here