This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
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Signing this tax return
The law requires that an authorised person sign this tax return. An authorised person for this purpose may be the public officer of the company or an agent duly authorised by the company.
Where an agent provides this tax return and accompanying information (where applicable), the company must prepare, and give to the agent, a signed declaration stating that:
- the company authorises the agent to give this tax return and accompanying information (where applicable) to the Commissioner, and
- the information provided to the agent for preparation of the tax return is true and correct.
The company must retain such a declaration or a copy of it for a period of five years after it is made.
Failure to lodge on time penalty and general interest charge
The law imposes a penalty on a corporate tax entity that does not lodge this tax return by the due date. It also imposes a general interest charge on an entity that fails to pay franking deficit tax and/or over-franking tax by the due date.
The Commissioner has the discretion to remit any penalty in whole or in part. If the entity considers the penalty should be remitted, a statement should be attached to this tax return explaining why remission should be granted.
The Commissioner also has the discretion to remit any general interest charge in whole or in part.
A request for the remission of the GIC should be made:
- in writing, and
- outlining fully the circumstances that led to the delay in payment.
Send the request to:
All states 1300 139 045
NSW, QLD, ACT:
PO Box 9102 Penrith
WA, SA, NT, VIC, TAS:
PO Box 327 Albury
Last modified: 18 Sep 2008QC 18007