Foreign Investment Reform (Protecting Australia's National Security) Act 2020 (114 of 2020)

Schedule 2   Compliance and enforcement

Part 1   Amendments

Foreign Acquisitions and Takeovers Act 1975

41   After section 115D

Insert:

115DA Vacancy fee liability - false or misleading vacancy fee return

(1) A person who gives a vacancy fee return to the Commissioner of Taxation for the purposes of subsection 115D(1) must ensure that the return does not contain information that is false or misleading in a material particular.

Civil penalty: 250 penalty units.

(2) To avoid doubt, for the purposes of subsection (1), information or documents may be false or misleading in a material particular because of the omission of a matter or thing.