Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 4 - Generic assessment, collection and recovery rules  

PART 4-15 - COLLECTION AND RECOVERY OF TAX-RELATED LIABILITIES AND OTHER AMOUNTS  

Division 269 - Penalties for directors of non-complying companies  

Subdivision 269-A - Object and scope  

SECTION 269-5   269-5   OBJECT OF DIVISION  


The object of this Division is to ensure that a company either:


(a) meets its obligations under:


(i) Subdivision 16-B (obligation to pay withheld amounts to the Commissioner); and

(ii) Division 268 (estimates of PAYG withholding liabilities and superannuation guarantee charge); and

(iii) Part 3 of the Superannuation Guarantee (Administration) Act 1992 (obligation to pay superannuation guarantee charge); and

(iv) Divisions 33 and 35 of the *GST Act in respect of *assessed net amounts; and

(v) Division 162 of the GST Act in respect of GST instalments (within the meaning of the GST Act); or


(b) goes promptly into voluntary administration or restructuring under the Corporations Act 2001 or into liquidation.

Note:

The directors ' duties are enforced by penalties on the directors. A penalty recovered under this Division is applied towards meeting the company ' s obligation.




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