Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (6 of 2020)
Schedule 3 GST estimates and director penalties
Taxation Administration Act 1953
17 Subsection 269-30(2) in Schedule 1 (at the end of the table)
Add:
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5 |
an *assessed net amount for a *tax period |
the last day of the 3 months after the due day, |
(a) if the company, on or before the last day mentioned in column 2, lodges its *GST return, for the tax period for the relevant *net amount - the extent (if any) to which the net amount (worked out from the information in the GST return and any other information that the company gives the Commissioner on or before that last day) is less than the company's assessed net amount for the tax period; or (b) otherwise - to any extent. |
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6 |
the amount of an estimate under Division 268 of a liability referred to in paragraph 268-10(1)(c) (net amount under GST Act), |
the last day of the 3 months after the day by which the company was obliged to give its *GST return, for the tax period for the relevant *net amount, to the Commissioner in accordance with Division 31 of the *GST Act, |
to any extent. |