Taxation Laws Amendment Act (No. 3) 1999 (11 of 1999)

Schedule 1   Running balance accounts, general interest charge and related matters

Part 1   Amendments

Sales Tax Assessment Act 1992

303   After subsection 91Z(2)

Insert:

(2A) If the person fails to send to the Commissioner the form notifying the amounts, or notifies the Commissioner of one or more amounts that are less than the correct amount, the person is liable to pay the failure to notify penalty on the total of the amounts, or on the amount of the shortfall, for each day in the period that:

(a) started at the beginning of the day by which the person was required to send the form to the Commissioner; and

(b) finishes at the end of the day before the Commissioner receives from the person the form notifying the correct amounts, or the Commissioner otherwise becomes aware of the correct amounts.