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Penalties and interest charges

Last updated 11 February 2019

The law imposes penalties on a partner or the partners in the partnership for:

  • failing to lodge a partnership tax return on time and in the approved form (which includes all applicable schedules)
  • making a statement that is false or misleading in a material particular
  • failing to keep and produce proper records
  • preventing access to premises and documents
  • failing to retain or produce declarations.

In addition, penalties, general interest charge and shortfall interest charge may apply to the partners.

QC44345