Tax Laws Amendment (Resale Royalty Right for Visual Artists) Act 2009 (126 of 2009)
Schedule 1 Resale royalty right for visual artists
Taxation Administration Act 1953
19 Section 288-75 in Schedule 1
Repeal the section, substitute:
288-75 Administrative penalty for a copyright or resale royalty collecting society
(1) A *copyright collecting society is liable to an administrative penalty of 20 penalty units if the society fails to give a notice as required by section 410-5 of the Income Tax Assessment Act 1997.
(2) The *resale royalty collecting society is liable to an administrative penalty of 20 penalty units if the society fails to give a notice as required by section 410-50 of the Income Tax Assessment Act 1997.
Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.
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