Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

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History

Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).

Note: See section 3AA .

Chapter 5 - Administration  

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Ch 5 title inserted by No 73 of 2006 , s 3 and Sch 5 item 44, effective 1 July 2006.

PART 5-30 - PAYMENT, ABN AND IDENTIFICATION VERIFICATION SYSTEM  

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Pt 5-30 inserted by No 179 of 1999.

Division 420 - Penalties for not reporting or verifying  

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Div 420 inserted by No 179 of 1999.

SECTION 420-5  

420-5   FAILING TO REPORT OR VERIFY: ADMINISTRATIVE PENALTY  

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An entity that fails to:

(a) give a *Division 405 report to the Commissioner as required by section 405-10 ; or

(b) give a *Division 410 report to the Commissioner as required by section 410-10 ; or

(c) verify a supplier ' s *ABN as required by section 415-10 ; or

(d) verify a supplier ' s identity as required by section 417-10 ;

is liable to pay to the Commissioner a penalty of 20 penalty units.

Note 1:

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

Note 2:

Division 298 contains machinery provisions for administrative and civil penalties.

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History

S 420-5 amended by No 32 of 2006 , s 3 and Sch 3 item 16, by inserting " and civil " in note 2, applicable in relation to conduct engaged in on or after 6 April 2006.

S 420-5 amended by No 91 of 2000 and inserted by No 179 of 1999.

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