Treasury Laws Amendment (Tax Reform No. 1) Act 2026 (49 of 2026)

Schedule 1   CGT adjustments

Part 1   Main amendments

Taxation Administration Act 1953

52   After subsection 286-75(2) in Schedule 1

Insert:

(2AAA) You are also liable to an administrative penalty if:

(a) you are required under subsection 115-235(1) of the Income Tax Assessment Act 1997 (giving information to beneficiaries) to prepare and give a statement to an entity (other than the Commissioner) by a particular day; and

(b) you do not give the statement to the entity by that day.