Replacement Explanatory Memorandum(Circulated by the authority of the Treasurer, the Hon. John Dawkins, M.P.)
Sales Tax Assessment Act (No. 1) 1930
- late payment of sales tax (s.29(1) of the Sales Tax Assessment Act (No.1) 1930 and s.68(1) of the Sales Tax Assessment Act 1992).
for the amendments being made by Clauses 33 and 34 the reduced rate of penalty is to apply in respect of any period during which the relevant amount is overdue that occurs on or after 1 October 1992. In the case of the amendment being made by Clause 35, the reduced rate is to apply to incorrect provisional tax estimates for the 1992-93 year of income and subsequent years of income.