Document ID: chunk:federal_register_of_legislation:C2018A00023:clause:5_1:p3
Version: federal_register_of_legislation:C2018A00023
Segment Type: clause
Provision Reference: sch 5 cl 1 (pt 3/3)
Character Range: 37554–39500

whether the other entity will be required to make a payment under section 14‑250 in relation to the supply; and
 (b) if the other entity will be required to make such a payment in relation to the supply:
 (i) your name and *ABN; and
 (ii) the amount that the other entity will be required to pay to the Commissioner under section 14‑250 in relation to the supply; and
 (iii) when the other entity will be required to pay that amount; and
 (iv) if some or all of the *consideration for the supply will not be expressed as an amount of *money—the *GST inclusive market value of so much of the consideration as will not be expressed as an amount of money; and
 (v) such other matters as are specified in the regulations.
 (2) However, subsection (1):
 (a) does not apply to a supply of *commercial residential premises; and
 (b) does not apply to a supply of *potential residential land to another entity if the other entity:
 (i) is registered (within the meaning of the *GST Act); and
 (ii) acquires the land for a *creditable purpose.
 (3) To avoid doubt, a failure to comply with subsection (1) does not affect the other entity's obligation to make a payment under section 14‑250.

Strict liability offence
 (4) You must not fail to give a notice required under this section.
Penalty: 100 penalty units.
 (5) An offence against subsection (4) is a strict liability offence.
Note: For strict liability, see section 6.1 of the Criminal Code.

Administrative penalty
 (6) You are liable to pay the Commissioner a penalty of 100 penalty units if you fail to give a notice required under this section.
Note: Division 298 contains machinery provisions for administrative penalties.
 (7) However, you are not liable to a penalty for failing to meet the requirements of paragraph (1)(b) in relation to a supply if, at the time you gave the notice, you reasonably believed that you were not required to meet those requirements in relation to that supply.