Promoter of ‘tax exploitation’ R&D tax schemes ordered to pay $4.25m in civil penalties and give undertakings
On 21 March 2018, the ATO website advised that the Federal Court had ordered a Queensland company to pay a $4.25 million penalty to the Commissioner of Taxation for its promotion of tax exploitation schemes. These are the civil penalties provisions for prevention of ‘tax exploitation schemes’ in Div 290 of the TAA1 (and in particular…