Tax Laws Amendment (Improvements to Self Assessment) Act (No. 1) 2005 (75 of 2005)

Schedule 2   Penalties

Taxation Administration Act 1953

12   Section 298-10 in Schedule 1

Omit "penalty. The notice may be included in any other notice the Commissioner gives to the entity.", substitute "penalty and of the reasons why the entity is liable to pay the penalty. The Commissioner may do so in any other notice he or she gives to the entity. The Commissioner is not required to give reasons if he or she decides to remit all of the penalty.".