Treasury Laws Amendment (2018 Measures No. 4) Act 2019 (8 of 2019)

Schedule 5   Compliance measures

Part 1   Penalties relating to estimates

Taxation Administration Act 1953

4   After subsection 269-15(2) in Schedule 1

Insert:

(2A) To avoid doubt, if the obligation of the company is an obligation to pay the amount of an estimate of an underlying liability under Division 268, a director is subject to his or her obligation under subsection (1):

(a) even if the underlying liability never existed or has been discharged in full; and

(b) even if the unpaid amount of the underlying liability is less than the unpaid amount of the estimate; and

(c) at all times on and after the day referred to in paragraph 269-10(5)(b) until the director's obligation ceases under subsection (2) of this section, including at any such times before the Commissioner has made the estimate or given notice of the estimate.