Income Tax Assessment Act 1997



Division 820 - Thin capitalisation rules  

Subdivision 820-L - Record keeping requirements  

Offences committed by certain entities

SECTION 820-995   Offences - treatment of unincorporated companies  

The provisions set out in the following paragraphs (the relevant provisions ) apply, in relation to records required to be kept under this Subdivision, to an unincorporated company as if it were a person, but with the modifications set out in this section:

(a) sections 820-960 , 820-962 and 820-980 ;

(b) section 262A of the Income Tax Assessment Act 1936 ;

(c) Part III of the Taxation Administration Act 1953 .

If the relevant provisions would otherwise require or permit something to be done by the company, the thing may be done by one or more members of the company ' s committee of management (the members ) on behalf of the company.

An obligation that would otherwise be imposed on the company by the relevant provisions:

(a) is imposed on each member instead; but

(b) may be discharged by any of the members.

The members are jointly and severally liable to pay an amount that would otherwise be payable by the company under the relevant provisions.

An offence against any of the relevant provisions that would otherwise be committed by the company is taken to have been committed by each member who:

(a) did the relevant act or made the relevant omission; or

(b) aided, abetted, counselled or procured the relevant act or omission; or

(c) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly or whether by any act or omission of the member).

For the purposes of subsection (5), to establish that the company had a particular state of mind when it engaged in a particular conduct, it is sufficient to show that a member had the relevant state of mind.

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