Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-30 - PAYMENT, ABN AND IDENTIFICATION VERIFICATION SYSTEM  

Division 420 - Penalties for not reporting or verifying  

SECTION 420-5  

420-5   FAILING TO REPORT OR VERIFY: ADMINISTRATIVE PENALTY  

An entity that fails to:

(a) give a *Division 405 report to the Commissioner as required by section 405-10 ; or

(b) give a *Division 410 report to the Commissioner as required by section 410-10 ; or

(c) verify a supplier ' s *ABN as required by section 415-10 ; or

(d) verify a supplier ' s identity as required by section 417-10 ;

is liable to pay to the Commissioner a penalty of 20 penalty units.

Note 1:

See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

Note 2:

Division 298 contains machinery provisions for administrative and civil penalties.