Taxation Administration Act 1953

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

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-10 - PAY AS YOU GO (PAYG) INSTALMENTS  

Division 45 - Instalment payments  

Subdivision 45-A - Basic rules  

SECTION 45-25   PENALTY FOR FAILURE TO NOTIFY COMMISSIONER  

45-25(1)    
If you fail to notify the Commissioner of an amount as required by section 45-20 , or you notify an amount that is less than the correct amount, you are liable to pay the *failure to notify penalty on the amount, or on the shortfall, multiplied by the instalment rate that you are required to use to work out the instalment for the period, for each day in the period that:

(a) started at the beginning of the day by which the amount was due to be paid; and

(b) finishes at the end of the day before you notify the Commissioner of the correct amount, or he or she otherwise becomes aware of it.

45-25(2)    

This section does not apply to a notification required to be lodged on or after 1 July 2000.

Note:

See instead Division 286 in Schedule 1 to the Taxation Administration Act 1953 .