The Qld Office of State Revenue (OSR) has updated Public Ruling TAA060.1.5 (Remission of unpaid tax interest). Given the abolition of mortgage duty from 1 July 2008, the OSR says references to reassessments of mortgage duty under s 291 of the Duties Act 2001 (Qld) have been removed from the examples of exceptional circumstances in which the Commissioner may exercise the discretion to remit all or part of unpaid tax interest. The updated Ruling applied from 25 June 2014.
[LTN 124, 1/7/14]