Superannuation Contributions and Termination Payments Taxes Legislation Amendment Act 1997 (191 of 1997)
Schedule 4 Amendment of the Superannuation Contributions Tax (Assessment and Collection) Act 1997
41 Subsection 40(5)
Repeal the subsection, substitute:
Offences
(5) A superannuation provider who contravenes this section is guilty of an offence punishable on conviction by a fine of not more than 60 penalty units.
Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.
Note 2: The amount of a penalty unit is stated in section 4AA of the Crimes Act 1914. If a body corporate is convicted of an offence, subsection 4B(3) of that Act allows a court to impose a fine that is not greater than 5 times the maximum fine that could be imposed by the court on an individual convicted of the same offence.
Note 3: In a prosecution for an offence against subsection (5), the defendant bears an evidential burden in relation to the matter in subsection (4) (see subsection 13.3(3) of the Criminal Code).
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