SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 7A - ADDITIONAL REQUIREMENTS FOR DEALINGS WITH CERTAIN GOODS

Division 4 - Withholding of sales tax on dealings with Part 7A goods

SECTION 91Z (Repealed by 101 of 2006)   REPORTING AND REMITTING AMOUNTS  

91Z(1)  [Remitting amounts to Commissioner]  

A person who makes one or more payments covered by section 91X in a month must send all amounts deducted under section 91X from the payments to the Commissioner within 21 days after the end of the month (or such longer period as the Commissioner allows).

91Z(2)  [Documentation requirements]  

The person must also:

(a)  complete and sign a withholding advice form in respect of the amounts; and

(b)  make 2 copies of the form; and

(c)  give a copy of the form to the seller; and

(d)  send the form to the Commissioner within 21 days after the end of the month (or such longer period as the Commissioner allows).

91Z(2A)  [Failure to notify or incorrect notification]  

If the person fails to send to the Commissioner the form notifying the amounts, or notifies the Commissioner of one or more amounts that are less than the correct amount, the person is liable to pay the failure to notify penalty on the total of the amounts, or on the amount of the shortfall, for each day in the period that:

(a)  started at the beginning of the day by which the person was required to send the form to the Commissioner; and

(b)  finishes at the end of the day before the Commissioner receives from the person the form notifying the correct amounts, or the Commissioner otherwise becomes aware of the correct amounts.

91Z(3)  [Retention of records]  

The person must keep the copies of all of the forms that the person is required to make under this section (other than those copies required to be given to the seller or sent to the Commissioner) for at least 5 years after the end of the financial year in which the payments to which the copies relate were made. The copies must be kept in Australia.

91Z(4)  [Penalty for contravention of subsec (1)]  

A person, other than a government body, who contravenes subsection (1) is guilty of an offence punishable on conviction by imprisonment for 12 months. In addition, the court may order the person to pay to the Commissioner as a penalty an amount not greater than the amount required to be deducted under section 91X from any payment to which the contravention relates.

91Z(5)  [Penalty for contravention of subsec (2) or (3)]  

A person, other than a government body, who contravenes subsection (2) or (3) is guilty of an offence punishable on conviction by a fine of 20 penalty units.