New Business Tax System (Consolidation and Other Measures) Act 2003 (16 of 2003)

Schedule 6   Consolidation: life insurance companies

Part 3   Transitional provisions

Taxation Administration Act 1953

12   At the end of subsection 286-80(2) of Schedule 1

Add:

; or (c) for failing to notify the happening of an event as mentioned in subsection 286-75(4) - 1 penalty unit for each period of 28 days or part of a period of 28 days starting on the day when the notification is due and ending when you notify the happening of the event (up to a maximum of 5 penalty units).


Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).