Shortfall penalties

These statements outline how we deal with shortfall penalties, including reduction of penalties, voluntary disclosures, evasion, abusive tax position and so on.

SPS 09/02 Voluntary disclosures

Guidelines for making a voluntary disclosure, the timing of notification and what constitutes a voluntary disclosure.

SPS 06/03 Reduction of shortfall penalties for previous behaviour (June 2006)

This Standard Practice Statement (SPS) sets out Inland Revenue's practice for reducing shortfall penalties for previous behaviour.

SPS 06/01 Discretion to cancel or not assess shortfall penalties for taking an unacceptable tax position (April 2006)

The government has recognised the problems caused by the UTP penalty and introduced section 141KB to give the Commissioner discretion in the assessment of a UTP penalty when the tax shortfall has arisen from a clear mistake or simple oversight.

INV-295 Reduction of shortfall penalties for previous behaviour (Apr 04) (under review)

Information about the Commissioner's practice for reducing shortfall penalties for previous behaviour.

INV-290 Promoter Penalties (Mar 04)

Information about the Commissioner's practice for applying promoter penalties to promoters of arrangements involving abusive tax positions.

INV-260 notification of a pending audit or investigation (Feb 00)

Defines what Inland Revenue actions constitute an audit or investigation.

INV-245 Payment of shortfall penalty using losses (Mar 98)

Information about situations where a taxpayer in a loss situation can elect to use losses to pay shortfall penalties

INV-231 Temporary shortfall - permanent reversals (Sep 99)

Information about the Commissioner's position on permanent reversal as it applies to a temporary shortfall.

INV-225 Criminal offence - evasion or similar offences (Mar 98)

Information about prosecutions by the Commissioner for defaults that fall within the criminal offence category of "evasion or similar offences".

Date published: 15 Jun 2007

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