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Wainwright and Commissioner of Taxation (Taxation) [2019] AATA 333

TAXATION – self managed superannuation fund – superannuation funds accessed before conditions of release met – superannuation funds used to meet personal expenses – benefits received not included in income tax return – whether benefits to be assessed in the year that they were received – administrative penalty and shortfall interest charges – whether Commissioner should have exercised his discretion to not include benefits in assessable income – unreasonable for the Commissioner to include a benefit in the Applicant’s assessable income – decision under review affirmed – decision under review set aside and substituted

 

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