64AHRemission of penalty

64AH Remission of penalty

(1) The Registrar may remit the whole or a part of a penalty that a parent who made an income election is liable to pay under subsection 64AF(1) if: (a) the parent underestimated an income amount in making the income election because of an amendment of an Income Tax Assessment Act, or because of a ruling or determination under that Act; or (b) the parent underestimated an income amount in making the income election for some other reason, and the Registrar is satisfied that it would be fair and reasonable in the circumstances to remit the whole or that part of the penalty. (2) If the Registrar makes a decision to remit only part of the penalty, or not to remit any part of the penalty, the Registrar must give written notice of the decision to the parent by whom the penalty is, or but for the remission would be, payable. (3) The notice must include, or be accompanied by, a statement to the effect: (a) that the parent may, subject to the Registration and Collection Act, object to the decision (the original decision); and (b) that if the parent is aggrieved by a later decision on an objection to the original decision, he or she may, subject to that Act and the ART Act, apply to the ART for review of the later decision. (4) A contravention of subsection (3) in relation to a decision does not affect the validity of the decision.