Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_2:p12
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 12/16)
Character Range: 1348020–1350701

of the *GST Act.
 (2) You are liable to an administrative penalty of 20 penalty units if you fail to issue an adjustment note as required by section 29‑75 of the *GST Act.
 (2A) You are liable to an administrative penalty of 20 penalty units if you fail to give a notice as required by subsection 84‑89(3) of the *GST Act.
 (3) You are liable to an administrative penalty of 20 penalty units if you fail to issue a third party adjustment note as required by section 134‑20 of the *GST Act.
Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

288‑46  Penalty for failing to ensure tax information about supplies of low value goods is included in customs documents
  You are liable to an administrative penalty of 20 penalty units if:
 (a) you are required by section 84‑93 of the *GST Act to ensure that the information set out in subsection 84‑93(2) of that Act is included in one or more of the documents referred to in subsection 84‑93(3) of that Act; but
 (b) you fail to take reasonable steps to do so.

288‑50  Penalty for both principal and agent issuing certain documents
  An entity is liable to an administrative penalty of 20 penalty units if both the entity and its agent issue:
 (a) separate tax invoices relating to the same taxable supply, contrary to subsection 153‑15(2) of the *GST Act; or
 (b) separate adjustment notes, or third party adjustment notes, for the same decreasing adjustment, contrary to subsection 153‑20(2) of that Act.
Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

288‑70  Administrative penalties for life insurance companies

Complying superannuation asset pool—calculation of an amount
 (1) A *life insurance company is liable to an administrative penalty if the company:
 (a) is required to calculate a particular amount under section 320‑175 of the Income Tax Assessment Act 1997; but
 (b) fails to do so within the period of 60 days that is required by that section.

Complying superannuation asset pool—transfer following valuation
 (2) A *life insurance company is liable to an administrative penalty if the company:
 (a) is required to transfer assets having a particular *transfer value from its *complying superannuation assets under subsection 320‑180(1) of the Income Tax Assessment Act 1997; but
 (b) fails to do so within the period of 30 days that is required by subsection 320‑180(2) of that Act.

Segregated exempt assets—calculation of an amount
 (3) A *life insurance company is liable to an administrative penalty if the company:
 (a) is required to calculate a particular amount under section 320‑230 of the Income Tax Assessment Act 1997; but
 (b)