Taxation Administration Act 1953

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

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-25 - RECORD-KEEPING AND OTHER OBLIGATIONS RELATING TO TAXPAYERS  

Division 398 - Miscellaneous reporting obligations  

Subdivision 398-A - 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.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.