Tax Laws Amendment (2012 Measures No. 2) Act 2012 (99 of 2012)

Schedule 1   Companies' non-compliance with PAYG withholding and superannuation guarantee obligations

Part 1   Recovery of penalties

Division 1   Amendments applying to future and undischarged penalties

Taxation Administration Act 1953

4   Application of amendments

The amendments made by this Division apply to penalties that are:

(a) payable under Subdivision 269-B in Schedule 1 to the Taxation Administration Act 1953 (including penalties in relation to which subitem 65(4) of Schedule 1 to the Tax Laws Amendment (Transfer of Provisions) Act 2010 applies); and

(b) due:

(i) at or after the commencement of this item; or

(ii) before the commencement of this item, to the extent the penalties are not paid, remitted or discharged before the commencement of this item.

Note: Subitem 65(4) of Schedule 1 to the Tax Laws Amendment (Transfer of Provisions) Act 2010 applies in relation to penalties that were payable under Division 9 of former Part VI of the Income Tax Assessment Act 1936.