CofT v International Indigenous Football Foundation Australia Pty Ltd – ‘promotor penalties’ for R&D ‘tax exploitation schemes’ – company and director ‘contravened’ and $4.25m in civil penalties (interesting circumstances)
In this case, the Court found the respondents had contravened the ‘promoter penalties’ provisions in Div 290 of the s290-50 of the Taxation Administration Act 1953, Schedule 1 (TAA1) in helping clients obtain R&D tax offsets (under Division 355 of the Income Tax Assessment Act 1997 (ITAA97). I should say that it was not, an…