The ATO has provided an update on the progress of remissions of failure to lodge (FTL) on time penalties on eligible obligations (as announced by the commissioner in July), AS Follows:
- 2016 tax returns – remissions have started to issue;
- Activity statements lodged from December 2016 up to 31 August 2017 – remissions in progress and will start to issue shortly.
The ATO will continue to remit any FTL Penalties imposed on eligible obligations lodged by 31 August 2017
Practitioners do not need to apply for a remission, and the ATO will let them know when the remission process is completed.