Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
This section applies if you pay a penalty under this Division in relation to a liability of the company under an obligation referred to in section 269-10 . 269-45(2)
You have the same rights (whether by way of indemnity, subrogation, contribution or otherwise) against the company or anyone else as if:
(a) you made the payment under a guarantee of the liability of the company; and
(b) under the guarantee you and every other person who has paid, or from whom the Commissioner is entitled to recover, a penalty under this Division in relation to the company ' s obligation were jointly and severally liable as guarantors.
Note: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rules
PART 4-15
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COLLECTION AND RECOVERY OF TAX-RELATED LIABILITIES AND OTHER AMOUNTS
Division 269
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Penalties for directors of non-complying companies
Subdivision 269-C
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Discharging liabilities
SECTION 269-45
DIRECTORS
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RIGHTS OF INDEMNITY AND CONTRIBUTION
269-45(1)
This section applies if you pay a penalty under this Division in relation to a liability of the company under an obligation referred to in section 269-10 . 269-45(2)
You have the same rights (whether by way of indemnity, subrogation, contribution or otherwise) against the company or anyone else as if:
(a) you made the payment under a guarantee of the liability of the company; and
(b) under the guarantee you and every other person who has paid, or from whom the Commissioner is entitled to recover, a penalty under this Division in relation to the company ' s obligation were jointly and severally liable as guarantors.
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