TAXATION ADMINISTRATION ACT 1953 (ARCHIVE)

This Division explains how to work out the late reconciliation statement penalty on an amount.

Generally, a person is liable to pay the penalty if the person must give the Commissioner a reconciliation statement, report or form by a certain time, and fails to do so.

A person is only liable to pay the penalty if a provision of an Act makes the person liable. (All of the provisions are in the Income Tax Assessment Act 1936 .)