Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
An *FMD provider must, before the 11th day after the end of a calendar month, give in writing to the *Agriculture Secretary the information specified in subsection (3) if the provider holds a *farm management deposit at the end of that month.
An offence under subsection (1) is an offence of strict liability.
The information is:
(a) the number of *farm management deposits held at the end of that month; and
(b) the number of depositors in respect of such deposits at the end of that month; and
(c) the sum of the balances of such deposits at the end of that month; and
(d) any other information, in relation to farm management deposits held by the *FMD provider at any time in that month, that is required by the regulations for the purposes of this section.
Regulations made for the purposes of paragraph (3)(d) must not require information:
(a) that discloses the identity of a depositor; or
(b) from which the identity of a depositor could reasonably be inferred.
Note: See section 3AA .
Chapter 5 - Administration
PART 5-25
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RECORD-KEEPING AND OTHER OBLIGATIONS RELATING TO TAXPAYERS
Division 398
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Miscellaneous reporting obligations
Subdivision 398-A
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Farm Management Deposit reporting
SECTION 398-5
REPORTING TO AGRICULTURE DEPARTMENT
FMD provider must provide monthly information
398-5(1)
An *FMD provider must, before the 11th day after the end of a calendar month, give in writing to the *Agriculture Secretary the information specified in subsection (3) if the provider holds a *farm management deposit at the end of that month.
Penalty: 10 penalty units.
398-5(2)
An offence under subsection (1) is an offence of strict liability.
Note:
For strict liability, see section 6.1 of the Criminal Code .
Information required 398-5(3)The information is:
(a) the number of *farm management deposits held at the end of that month; and
(b) the number of depositors in respect of such deposits at the end of that month; and
(c) the sum of the balances of such deposits at the end of that month; and
(d) any other information, in relation to farm management deposits held by the *FMD provider at any time in that month, that is required by the regulations for the purposes of this section.
Regulations not to require identity of depositor
398-5(4)
Regulations made for the purposes of paragraph (3)(d) must not require information:
(a) that discloses the identity of a depositor; or
(b) from which the identity of a depositor could reasonably be inferred.
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