Taxation Administration Act 1953
Note: See section 3AA .Chapter 2 - Collection, recovery and administration of income tax
An entity that has paid an amount of penalty under section 16-30 , 16-35 or 16-40 for a *withholding payment covered by:
(a) Subdivision 12-F (about a dividend, interest or royalty payment); or
(aa) section 12-305 (about a departing Australia superannuation payment); or
(ab) Subdivision 12-FC (Seasonal Labour Mobility Program); or
(b) section 12-320 (about a mining payment); or
(c) Subdivision 12-H (about distributions of withholding MIT income);
may recover an amount equal to the amount of penalty from the person liable to pay the *withholding tax, or *mining withholding tax, for the withholding payment.
Subsection (3) applies if an entity has paid an amount of penalty under section 12-415 to the Commissioner for a failure to give a notice, or to make details available on a website, as required by section 12-395 in relation to an amount (the relevant amount ).
The entity may recover from another entity that is liable to pay *managed investment trust withholding tax in relation to an amount attributable to the relevant amount the lesser of:
(a) an amount equal to the amount of that tax that the other entity is liable to pay; and
(b) the amount of the penalty.
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