Document ID: chunk:federal_register_of_legislation:F2015L00786:body:0:p13
Version: federal_register_of_legislation:F2015L00786
Segment Type: other
Provision Reference: 
Character Range: 30970–33643

in the approved form. Under section 388-50 of Schedule 1 to the Taxation Administration Act 1953, a document is in the approved form if:

           * it is in the form approved in writing by the Commissioner;
           * it contains a declaration signed by the person or persons as required;
           * it contains the information required by the form and is accompanied by any further information, statement, or document (including any schedule) required by the Commissioner; and
           * it is given in the manner that the Commissioner requires (which may include electronically).

       Note: Giving false or misleading information is an offence.

    Penalties for non-compliance

    Any person who fails or refuses to give me a return or any other information under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 commits an offence (by virtue of section 8C of the Taxation Administration Act 1953) and is punishable on conviction by a fine not exceeding 20 penalty units under section 8E of the Taxation Administration Act 1953 if it is the first offence. If convicted of a second offence, the court may impose a fine not exceeding 40 penalty units. If convicted of a third or subsequent offence, the court may impose a fine not exceeding 50 penalty units or a maximum of 12 months imprisonment, or both. Under section 8ZF of the Taxation Administration Act 1953, the court may impose a fine not exceeding 250 penalty units on a company if it is convicted of a third or subsequent offence for failing to give me a return or any other information under the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.

    Alternatively:
       1. any person (including a full self-assessment taxpayer) may, in relation to an income tax return, become liable to pay a penalty under section 286-75 of Schedule 1 to the Taxation Administration Act 1953;

       2.      companies, trustees of corporate unit trusts, trustees of public trading trusts, corporate limited partnerships and pooled development funds may, in relation to a franking return, or a venture capital deficit tax return, become liable to pay a penalty under section 286-75 of Schedule 1 to the Taxation Administration Act 1953.

    A trustee of a self managed superannuation fund who contravenes the requirement to lodge a return under section 35D of the Superannuation Industry (Supervision) Act 1993 commits an offence and, if convicted, is liable to a penalty of 50 penalty units. This return forms part of the Self Managed Superannuation Fund Annual Return 2015.

    Note:
    At the time this instrument was registered one penalty unit was $170.00.