Tax Laws Amendment (2007 Measures No. 4) Act 2007 (143 of 2007)
Schedule 7 Minor amendments
Part 2 Penalty unit conversion
104 Penalty unit conversion
(1) The provisions of the Fringe Benefits Tax Assessment Act 1986 listed in the table are amended as set out in the table.
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Penalty unit conversion |
|||
|
Item |
Provision |
Omit: |
Substitute: |
|
1 |
Subsection 121(1) (penalty) |
$1,000 |
10 penalty units |
|
2 |
Subsection 121(2) (penalty) |
$1,000 |
10 penalty units |
|
3 |
Subsection 121(2B) (penalty) |
$1,000 |
10 penalty units |
|
4 |
Subsection 122(1) (penalty) |
$1,000 |
10 penalty units |
|
5 |
Section 135 |
$500 |
5 penalty units |
(2) The provisions of the Income Tax Assessment Act 1936 listed in the table are amended as set out in the table.
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Penalty unit conversion |
|||
|
Item |
Provision |
Omit: |
Substitute: |
|
1 |
Section 16 (penalty) |
$10,000 |
100 penalty units |
|
2 |
Subsection 124ZADA(3) (penalty) |
$200 |
2 penalty units |
|
3 |
Subsection 124ZADB(1) (penalty) |
$200 |
2 penalty units |
|
4 |
Subsection 202CD(1) (penalty) |
$1,000 |
10 penalty units |
|
5 |
Subsection 202CD(4) (penalty) |
$1,000 |
10 penalty units |
|
6 |
Subsection 202EE(2) (penalty) |
$1,000 |
10 penalty units |
|
7 |
Subsection 202EF(4) (penalty) |
$1,000 |
10 penalty units |
|
8 |
Subsection 213(2) (penalty) |
$2,000 |
20 penalty units |
|
9 |
Section 251A (sub-subparagraph (c)(ii)(A) of the definition of serious taxation offence) |
$2,000 |
20 penalty units |
|
10 |
Subsection 251KG(1) (penalty) |
$500 |
5 penalty units |
|
11 |
Subsection 251KH(1) (penalty) |
$500 |
5 penalty units |
|
12 |
Section 251KJ (penalty) |
$500 |
5 penalty units |
|
13 |
Subsection 251KK(2) (penalty) |
$500 |
5 penalty units |
|
14 |
Subsections 251N(1), (2) and (2B) (penalty) |
$1,000 |
10 penalty units |
|
15 |
Subsection 251O(1) (penalty) |
$1,000 |
10 penalty units |
|
16 |
Subsection 252(3) |
$50 |
1 penalty unit |
|
17 |
Subsection 252A(1) |
$50 |
1 penalty unit |
|
18 |
Section 266 |
$500 |
5 penalty units |
(3) The provisions of the Taxation Administration Act 1953 listed in the table are amended as set out in the table.
|
Penalty unit conversion |
|||
|
Item |
Provision |
Omit: |
Substitute: |
|
1 |
Subsection 3D(21) |
$10,000 |
100 penalty units |
|
2 |
Subsection 8E(1) |
$2,000 |
20 penalty units |
|
3 |
Subsection 8E(2) |
$4,000 |
40 penalty units |
|
4 |
Subsection 8E(3) |
$5,000 |
50 penalty units |
|
5 |
Subsection 8H(1) |
$5,000 |
50 penalty units |
|
6 |
Subsection 8M(1) |
$2,000 |
20 penalty units |
|
7 |
Subsection 8M(2) |
$4,000 |
40 penalty units |
|
8 |
Subsection 8R(1) |
$3,000 |
30 penalty units |
|
9 |
Subsection 8R(2) |
$5,000 |
50 penalty units |
|
10 |
Subsection 8V(1) |
$5,000 |
50 penalty units |
|
11 |
Subsection 8V(2) |
$10,000 |
100 penalty units |
|
12 |
Subsection 8WA(1) (penalty) |
$10,000 |
100 penalty units |
|
13 |
Subsection 8WB(1) (penalty) |
$10,000 |
100 penalty units |
|
14 |
Subsection 8WC(1) (penalty) |
$10,000 |
100 penalty units |
|
15 |
Section 8XA (penalty) |
$10,000 |
100 penalty units |
|
16 |
Subsection 8XB(1) (penalty) |
$10,000 |
100 penalty units |
|
17 |
Subsection 13F(4) (penalty) |
$1,000 |
10 penalty units |
|
18 |
Subsection 14J(3) (penalty) |
$1,000 |
10 penalty units |
|
19 |
Subsection 14R(1) (penalty) |
$5,000 |
50 penalty units |
|
20 |
Subsection 14ZA(1) (penalty) |
$500 |
5 penalty units |