Taxation Laws Amendment Act (No. 6) 2001 (169 of 2001)
Schedule 6 Personal services income
Part 4 Other amendments
Income Tax Assessment Act 1936
16E After subsection 222AOD(1)
(a) after the payment day, a person becomes, or again becomes, a director of the company at a time when section 222AOBAA has not yet been complied with in relation to the payment or payments relating to the payment day; and
(b) at the end of 14 days after the person becomes a director, that section has still not been complied with in relation to that payment or those payments;
the person is liable to pay to the Commissioner, by way of penalty, an amount equal to the unpaid amount of the liability referred to in subsection 222AOC(1A).