Treasury Laws Amendment (Combating Illegal Phoenixing) Act 2020 (6 of 2020)

Schedule 3   GST estimates and director penalties

Taxation Administration Act 1953

4   Section 268-1 in Schedule 1

Omit:

If you are given an estimate, you are liable to pay the amount of the estimate. That liability is distinct from your liability to pay the amounts required by Part 2-5 or the Superannuation Guarantee (Administration) Act 1992. However, you can ensure that the Commissioner does not require you to pay more than the amounts not paid under that Part or Act.

substitute:

If you are given an estimate, you are liable to pay the amount of the estimate. That liability is distinct from your liability to pay the amounts required by Part 2-5 or the Superannuation Guarantee (Administration) Act 1992. In the case of an estimate of a net amount that has been assessed by the Commissioner, that liability is distinct from your liability to pay the amount of the assessment. However, you can ensure that the Commissioner does not require you to pay more than the relevant unpaid amounts.


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