Treasury Laws Amendment (2018 Measures No. 4) Act 2019 (8 of 2019)

Schedule 4   Fund reporting

Part 1   Grace period for member information statements

Taxation Administration Act 1953

1   After subsection 8K(2A)

Insert:

(2B) Subsection (1) or (1B) does not apply if:

(a) the statement (the original statement ) was made under section 390-5 in Schedule 1; and

(b) the person who made the original statement makes a further statement to a taxation officer that corrects the original statement in each of the respects in which it is false or misleading in a material particular; and

(c) subsection 390-7(1) in Schedule 1 provides for a period for correcting the original statement; and

(d) the further statement:

(i) is in the approved form; and

(ii) is made within the period referred to in paragraph (c) of this subsection.

Note: A defendant bears an evidential burden in relation to the matter in subsection (2B): see subsection 13.3(3) of the Criminal Code.