Taxation Administration Act 1953
Subsection 2(2) specifies laws that are not taxation laws for the purposes of this Part.
(a) a person is an investor in relation to 2 or more investments of a similar kind; and
(b) having regard to:
(i) the manner in which the person became an investor in relation to the investments; and
it would be reasonable to conclude that the person became such an investor in that manner for the sole or dominant purpose of ensuring, or attempting to ensure that:
(ii) any explanation made by the person as to becoming such an investor in that manner;
(iii) although the person has not, under Part VA of the Income Tax Assessment Act 1936 , quoted the person ' s tax file number in connection with those investments (in this subparagraph called the non-TFN investments ):
(A) amounts would not be deducted under Division 3B of that Act, or withheld under section 12-140 or 12-145 in Schedule 1 to this Act, from income in respect of one or more of the non-TFN investments; and
(B) amounts would not be paid to the Commissioner under section 14-5 in Schedule 1 to this Act, in relation to income in respect of one or more of the non-TFN investments; and
(iv) the investments are not referred to in a report under the regulations made under that Act;
the person commits an offence.
Penalty: 100 penalty units or imprisonment for 2 years, or both.
In this section:
means an investment of a kind mentioned in section 202D of the Income Tax Assessment Act 1936 ;