S 251M repealed by No 114 of 2009, s 3 and Sch 1 item 7, effective 1 March 2010. S 251M formerly read:
SECTION 251M NEGLIGENCE OF REGISTERED TAX AGENT ETC.
251M(1)
If, through the negligence of a registered tax agent, or of a person exempted under section
251L
, a taxpayer becomes liable to pay a fine or other penalty, the general interest charge under a provision of this Act, or to pay shortfall interest charge, the registered tax agent, or the person, as the case may be, shall be liable to pay to the taxpayer the amount of that fine or other penalty, additional tax, general interest charge or shortfall interest charge, and that amount may be sued for and recovered by the taxpayer in any court of competent jurisdiction.
Note 1:
The general interest charge is worked out under Part
IIA
of the
Taxation Administration Act 1953
and shortfall interest charge is worked out under Division
280
in Schedule
1
to that Act.
Note 2:
Subsection
8AAB(4)
of that Act lists the provisions that apply the general interest charge.
History
S 251M(1) amended by
No 101 of 2006
, s 3 and Sch 2 item 1034, by omitting the reference to a repealed inoperative division in note 1, effective 14 September 2006. For application and savings provisions see the
CCH Australian Income Tax Legislation archive
.
S 251M(1) amended by No 75 of 2005, No 11 of 1999, No 101 of 1992 and No 108 of 1981.
251M(2)
Nothing in this section shall exonerate the taxpayer from his liability.
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