A New Tax System (Tax Administration) Act (No. 2) 2000 (91 of 2000)

Schedule 2   Consequential and miscellaneous amendments

Part 1   General

Fringe Benefits Tax Assessment Act 1986

12   Subsection 132(5) (penalty)

Repeal the penalty, substitute:

Penalty: 30 penalty units.

Note 1: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288-25 in Schedule 1 to the Taxation Administration Act 1953.

Note 2: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.