Taxation Laws Amendment Act (No. 2) 1995 (169 of 1995)

Schedule 5 SUPERANNUATION ENTITIES (TAXATION) ACT 1987

year of income

(1) This item applies if:

(a) a person lodged a return for the 1994-95 year of income before

the commencement of this item; and

(b) at a time before the commencement of this item, the person had

incurred a liability to pay a penalty under section 15DC of the

Superannuation Entities (Taxation) Act 1987 in respect of levy payable

on the lodgment of the return.

(2) The liability is remitted.

(3) If the person has paid an amount in discharge of the liability,

the Commissioner must refund the amount to the person.

(4) This item does not prevent the person from incurring a liability

under section 15DC of the Superannuation Entities (Taxation) Act 1987

(as amended by this Schedule) in respect of levy payable on the

lodgment of the return.