SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 9 - PENALTIES FOR NON-COMPLIANCE

SECTION 95A (Repealed by 101 of 2006)   FAILURE TO NOTIFY AMOUNT OF TAX PAYABLE ON ASSESSABLE DEALINGS WITH GOODS  

95A(1)  [Liability for penalty]  

A taxpayer who fails to notify the amount of tax payable on an assessable dealing with goods in a return on or before the day on which the taxpayer must lodge a return under section 61 is liable to pay the failure to notify penalty on the amount of the tax payable.

95A(2)  [Shortfall penalty]  

A taxpayer who notifies the amount of tax payable on an assessable dealing with goods in a return that is less than the correct amount of the tax payable is liable to pay the failure to notify penalty on the amount of the shortfall.

95A(3)  [Calculation of penalty]  

The failure to notify penalty is payable for each day in the period that:

(a)  started at the beginning of the day by which the taxpayer was required to lodge the return; and

(b)  finishes at the end of the day before the Commissioner receives notification from the taxpayer, or otherwise becomes aware, of the correct amount.

95A(4)  [Interpretation]  

The ``failure to notify penalty'' means the penalty worked out under Division 2 of Part IIA of the Taxation Administration Act 1953.