The penalty assessment process

Penalty assessments

In this section we will look at penalty assessments, suspensions, appeals and other penalty issues.

Once a person has become liable to a penalty for an inaccuracy, or understatement, a penalty assessment will be issued.

There is certain information that must be included in the assessment.

The penalty assessment must include

• the date of the assessment
• the amount of the penalty
• the tax period or claim to which the penalty relates
• the rights of appeal and review
• the amount of any penalty suspended