S.L. 123.68 Art. 4Whereapersonhas taken reasonable care.

(1) For the purposes of rule 3, in determining whether reasonable care has been taken in the preparation and submission of a return, the Commissioner shall take account of:

(a) whether a person has sought and relied on the written advice of a tax professional; and

(b) the complexity of the transaction which has resulted in an omission from the return or the complexity of the legal provisions concerned and the difficulties in their interpretation.

(2) The original written advice, referred to in sub-rule (1)(a), is to be submitted together with the return by not later than the relative tax return date.

(3) An advice, referred to in sub-rule (1)(a), furnished by a tax professional, shall not of itself constitute a binding interpretation of the relative statutory provisions and views on their proper application.

(4) Rejection by the Commissioner of advice furnished by a tax professional shall not necessarily imply that a person has not taken reasonable care, unless the said advice is considered by the Commissioner to be spurious or frivolous.