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

4   At the end of section 284-75 in Schedule 1

Add:

(9) You are not liable to an administrative penalty under subsection (1) if:

(a) you made the statement (the original statement ) under section 390-5; and

(b) you make 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) 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.