Commonwealth: A New Tax System (Tax Administration) Act (No. 2) 2000 (Cth)

A New Tax System (Tax Administration) Act (No. 2) 2000 Act No. 91 of 2000 as amended This compilation was prepared on 16 October 2006 [This Act was amended by Act No. 156 of 2000; No. 101 of 2003; No. 101 of 2006] Amendments from Act No. 156 of 2000 [Schedule 7 (item 11) amended Schedule 4B (item 2) Schedule 7 (item 12) amended Schedule 4B (item 7) Schedule 7 (items 11 and 12) commenced immediately after 1 July 2000] Amendment from Act No. 101 of 2003 [Schedule 6 (item 4) repealed Schedule 2 (item 8A) Schedule 6 (item 4) commenced immediately after 1 July 2000] Amendments from Act No. 101 of 2006 [Schedule 2 (items 14–16) amended subitem 3(1) of Schedule 1 Schedule 2 (item 17) amended subitem 3(2) of Schedule 1 Schedule 2 (items 14–17) commenced on 14 September 2006] Prepared by the Office of Legislative Drafting and Publishing, Attorney-General's Department, Canberra Contents 1 Short title 2 Definition 3 Commencement 4 Schedule(s) Schedule 1—Administrative penalties Taxation Administration Act 1953 Schedule 2—Consequential and miscellaneous amendments Part 1—General A New Tax System (Australian Business Number) Act 1999 A New Tax System (Tax Administration) Act 1999 Diesel and Alternative Fuels Grants Scheme Act 1999 Fringe Benefits Tax Assessment Act 1986 Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Petroleum Resource Rent Tax Assessment Act 1987 Superannuation Contributions Tax (Assessment and Collection) Act 1997 Superannuation Guarantee (Administration) Act 1992 Taxation Administration Act 1953 Taxation (Interest on Overpayments and Early Payments) Act 1983 Tobacco Charges Assessment Act 1955 Termination Payments Tax (Assessment and Collection) Act 1997 Wool Tax (Administration) Act 1964 Part 2—Amendments applying to returns etc. for the 2000‑01 year and later years Income Tax Assessment Act 1936 Taxation Administration Act 1953 Part 3—Amendments applying to tax payable for the 2000‑01 year and later years Income Tax Assessment Act 1936 Part 4—FBT amendments commencing on 1 April 2001 Fringe Benefits Tax Assessment Act 1986 Schedule 3—Pay As You Go (PAYG) withholding system Taxation Administration Act 1953 A New Tax System (Tax Administration) Act 1999 Schedule 4—Amendment of the Corporations Law consequential on Pay As You Go (PAYG) withholding system Schedule 4A—Income tax deductions for GST‑related expenditure Income Tax Assessment Act 1997 Schedule 4B—Diesel Fuel Rebate Scheme Customs Act 1901 Excise Act 1901 Schedule 4C—Access to ABN information Part 1—Amendments A New Tax System (Australian Business Number) Act 1999 Part 2—Transitional Schedule 5—Consequential amendment of Chapter 6 (the Dictionary) of the Income Tax Assessment Act 1997 An Act to amend the law about taxation to implement A New Tax System, and for related purposes [Assented to 30 June 2000] The Parliament of Australia enacts: 1 Short title This Act may be cited as the A New Tax System (Tax Administration) Act (No. 2) 2000. 2 Definition In this Act: Corporations Law means the Corporations Law set out in section 82 of the Corporations Act 1989. 3 Commencement (1) Subject to this section, this Act commences, or is taken to have commenced, immediately after the commencement of section 1-1 of the A New Tax System (Goods and Services Tax) Act 1999. (2) Items 2 to 7 (inclusive) of Schedule 2 commence, or are taken to have commenced, immediately after the commencement of sections 9 and 10 of the Diesel and Alternative Fuels Grants Scheme Act 1999. (3) Part 4 of Schedule 2 commences, or is taken to have commenced, on 1 April 2001. (4) Schedule 3 commences, or is taken to have commenced, immediately after the commencement of section 1 of the A New Tax System (Tax Administration) Act (No. 1) 2000. (5) Schedule 4 commences, or is taken to have commenced, on 1 July 2000. (5A) Schedule 4B commences, or is taken to have commenced, immediately after the commencement of the Customs and Excise Amendment (Diesel Fuel Rebate Scheme) Act 1999. (5B) Schedule 4C commences, or is taken to have commenced, on 1 July 2000. (6) Items 8 and 9 of Schedule 5 commence, or are taken to have commenced, on 1 July 2000. 4 Schedule(s) Subject to section 3, the Corporations Law and each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. Schedule 1—Administrative penalties Taxation Administration Act 1953 1 Section 265‑70 in Schedule 1 (link note) Omit "288", substitute "284". 2 Before Division 288 in Schedule 1 Insert: Division 284—Administrative penalties for statements, unarguable positions and schemes Table of Subdivisions Guide to Division 284 284‑A General provisions 284‑B Penalties relating to statements 284‑C Penalties relating to schemes 284‑D Provisions common to Subdivisions 284‑B and 284‑C Guide to Division 284 284‑5 What this Division is about This Division sets out the circumstances in which administrative penalties apply for: (a) making false or misleading statements; and (b) taking a position that is not reasonably arguable; and (c) entering into schemes. It also sets out the amounts of those penalties. Subdivision 284‑A—General provisions Table of sections 284‑10 Object of Division 284‑15 When a matter is reasonably arguable 284‑20 Which statements this Division applies to 284‑25 Statements by agents 284‑30 Application of Division to trusts 284‑35 Application of Division to partnerships 284‑10 Object of Division The object of this Division is to provide a uniform administrative penalty regime for all *taxation laws to enable administrative penalties to apply to entities that fail to meet their obligations under those laws in relation to: (a) making false or misleading statements; and (b) taking a position that is not reasonably arguable; and (c) entering into *schemes; and (d) refusing to provide documents to the Commissioner; and (e) disregarding *private rulings. 284‑15 When a matter is reasonably arguable (1) A matter is reasonably arguable if it would be concluded in the circumstances, having regard to relevant authorities, that what is argued for is as likely to be correct as incorrect, or is more likely to be correct than incorrect. (2) To the extent that a matter involves an assumption about the way in which the Commissioner will exercise a discretion, the matter is only reasonably arguable if, had the Commissioner exercised the discretion in the way assumed, a court would be as likely as not to decide that the exercise of the discretion was in accordance with law. (3) Without limiting subsection (1), these authorities are relevant: (a) a *taxation law; (b) material for the purposes of subsection 15AB(1) of the Acts Interpretation Act 1901; (c) a decision of a court (whether or not an Australian court), the *AAT or a Board of Review; (d) a public ruling within the meaning of Part IVAAA. 284‑20 Which statements this Division applies to This Division applies to a statement made orally, in a document or in any other way (including electronically) for a purpose connected with a *taxation law. 284‑25 Statements by agents This Division applies to a statement made in an *approved form by your agent as if it had been made by you. 284‑30 Application of Division to trusts If you are a trustee of a trust and: (a) you make a statement to the Commissioner or to an officer who is exercising powers or performing functions under a *taxation law about the trust; and (b) the statement: (i) is false or misleading in a material particular, whether because of things in it or omitted from it; or (ii) treated an *income tax law as applying to a matter or identical matters in a particular way that was not *reasonably arguable; or (iii) treated a taxation law as applying in a particular way to a *scheme; this Division applies to you as if any *shortfall amount or *scheme shortfall amount of a beneficiary of the trust as a result of the statement were your shortfall amount or scheme shortfall amount. 284‑35 Application of Division to partnerships (1) If you are a partner in a partnership and: (a) a statement about the partnership net income or partnership loss is made by a partner or the partnership's agent to the Commissioner or to an entity who is exercising powers or performing functions under a *taxation law about the partnership; and (b) the statement: (i) is false or misleading in a material particular, whether because of things in it or omitted from it; or (ii) treated an *income tax law as applying to a matter or identical matters in a particular way that was not *reasonably arguable; this Division applies to you as if you had made the statement. (2) If you are a partner in a partnership and: (a) the partnership participated in a *scheme; and (b) the partnership net income would have been greater, or the partnership loss would have been smaller, apart from the scheme; this Division applies to you as if the proportion of the *scheme benefit that is the same as your share of the partnership net income or partnership loss were your scheme benefit. Subdivision 284‑B—Penalties relating to statements Guide to Subdivision 284‑B 284‑70 What this Subdivision is about You are liable to an administrative penalty if: (a) you make a false or misleading statement about a tax‑related matter; or (b) you take a position that is not reasonably arguable about a tax‑related matter; or (c) the Commissioner determines a tax‑related liability of yours without documents you were required to provide; or (d) you do not follow a private ruling about a tax‑related matter. This Subdivision sets out when the penalties apply and how the amounts of the penalties are calculated. Table of sections Operative provisions 284‑75 Liability to penalty 284‑80 Shortfall amounts 284‑85 Amount of penalty 284‑90 Base penalty amount [This is the end of the Guide.] Operative provisions 284‑75 Liability to penalty (1) You are liable to an administrative penalty if: (a) you or your agent makes a statement to the Commissioner or to an entity that is exercising powers or performing functions under a *taxation law; and (b) the statement is false or misleading in a material particular, whether because of things in it or omitted from it; and (c) you have a *shortfall amount as a result of the statement. (2) You are liable to an administrative penalty if: (a) you or your agent makes a statement to the Commissioner or to an entity that is exercising powers or performing functions under an *income tax law; and (b) in the statement, you or your agent treated an *income tax law as applying to a matter or identical matters in a particular way that was not *reasonably arguable; and (c) you have a *shortfall amount as a result of the statement; and (d) item 4, 5 or 6 of the table in subsection 284‑90(1) applies to you. (3) You are liable to an administrative penalty if: (a) you fail to give a return, notice or other document to the Commissioner by the day it is required to be given; and (b) that document is necessary for the Commissioner to determine a *tax‑related liability of yours accurately; and (c) the Commissioner determines the tax‑related liability without the assistance of that document. Note: You are also liable to an administrative penalty for failing to give the document on time: see Subdivision 286‑C. (4) You are liable to an administrative penalty if: (a) a *private ruling has been made about the way in which a *taxation law applies to you; and (b) after the ruling was made, you make a statement to the Commissioner treating that law as applying to you in a different way; and (c) you have a *shortfall amount as a result of the statement. 284‑80 Shortfall amounts You have a shortfall amount if an item in this table applies to you. That amount is the amount by which the relevant liability, or the payment or credit, is less than or more than it would otherwise have been. Shortfall amounts Item You have a shortfall amount in this situation: 1 A *tax‑related liability of yours for an accounting period, or for a *taxable importation, worked out on the basis of the statement is less than it would be if the statement were not false or misleading 2 An amount that the Commissioner must pay or credit to you under a *taxation law for an accounting period, or under a tourist refund scheme under Division 168 of the *GST Act or Division 25 of the A New Tax System (Wine Equalisation Tax) Act 1999, worked out on the basis of the statement is more than it would be if the statement were not false or misleading 3 A *tax‑related liability of yours for an accounting period worked out on the basis of the statement is less than it would be if the statement did not treat an *income tax law as applying in a way that was not *reasonably arguable 4 An amount that the Commissioner must pay or credit to you under an *income tax law for an accounting period worked out on the basis of the statement is more than it would be if the statement did not treat an *income tax law as applying in a way that was not *reasonably arguable 5 A *tax‑related liability of yours for an accounting period worked out on the basis of the statement is less than it would be if the statement were consistent with the *private ruling 6 An amount that the Commissioner must pay or credit to you under a *taxation law for an accounting period worked out on the basis of the statement is more than it would be if the statement were consistent with the *private ruling Note: Section 284‑215 may reduce or eliminate your shortfall amount. 284‑85 Amount of penalty (1) Work out the *base penalty amount under section 284‑90. If the base penalty amount is not increased under section 284‑220 or reduced under section 284‑225, this is the amount of the penalty. (2) Otherwise, use this formula: where: BPA is the *base penalty amount. increase % is the percentage increase (if any) under section 284‑220. reduction % is the percentage reduction (if any) under section 284‑225. 284‑90 Base penalty amount (1) The base penalty amount under this Subdivision is worked out using this table: Base penalty amount Item In this situation: The base penalty amount is: 1 Your *shortfall amount or part of it resulted from intentional disregard of a *taxation law by you or your agent 75% of your *shortfall amount or part 2 Your *shortfall amount or part of it resulted from recklessness by you or your agent as to the operation of a *taxation law 50% of your *shortfall amount or part 3 Your *shortfall amount or part of it resulted from a failure by you or your agent to take reasonable care to comply with a *taxation law 25% of your *shortfall amount or part 4 Your *shortfall amount or part of it resulted from you or your agent treating an *income tax law as applying to a matter or identical matters in a particular way that was not *reasonably arguable, and that amount is more than the greater of $10,000 or 1% of the income tax payable by you for the income year, worked out on the basis of your *income tax return 25% of your *shortfall amount or part 5 You have a *shortfall amount because of section 284‑30 (about trusts) and: 25% of your *shortfall amount or part (a) your shortfall amount or part of it resulted from you or your agent treating an *income tax law as applying to a matter or identical matters in a particular way that was not *reasonably arguable; and (b) because of that treatment, the trust's net income would have been reduced, or the trust's *tax loss would have been increased, for the income year by more than the greater of $20,000 or 2% of the trust's net income (if any) for that year worked out on the basis of the trust's *income tax return 6 You have a *shortfall amount because of section 284‑35 (about partnerships) and: 25% of your *shortfall amount or part (a) your shortfall amount or part of it resulted from you or your agent treating an *income tax law as applying to a matter or identical matters in a particular way that was not *reasonably arguable; and (b) because of that treatment, the partnership net income would have been reduced, or the partnership loss would have been increased, for the income year by more than the greater of $20,000 or 2% of the partnership net income (if any) for that year, worked out on the basis of the partnership's *income tax return 7 You are liable to an administrative penalty under subsection 284‑75(3) 75% of the tax‑related liability concerned 8 Your *shortfall amount or part of it resulted you or your agent disregarding a *private ruling 25% of your *shortfall amount or part Note: Section 284‑215 may reduce or eliminate your shortfall amount. (2) If 2 or more items in that table apply to you for your *shortfall amount or a part of it and one of them produces a greater *base penalty amount than any of the others, use that item. Subdivision 284‑C—Penalties relating to schemes Guide to Subdivision 284‑C 284‑140 What this Subdivision is about You are liable to an administrative penalty if you attempt to reduce your tax‑related liabilities or increase your credits through a scheme. This Subdivision sets out when the penalties apply and how the amounts of the penalties are calculated. Table of sections Operative provisions 284‑145 Liability to penalty 284‑150 Scheme benefits and scheme shortfall amounts 284‑155 Amount of penalty 284‑160 Base penalty amount: schemes [This is the end of the Guide.] Operative provisions 284‑145 Liability to penalty (1) You are liable to an administrative penalty if: (a) you would, apart from a provision of a *taxation law or action taken under such a provision (the adjustment provision), get a *scheme benefit from a *scheme; and (b) having regard to any relevant matters, it is reasonable to conclude that: (i) an entity that (alone or with others) entered into or carried out the scheme, or part of it, did so with the sole or dominant purpose of that entity or another entity getting a scheme benefit from the scheme; or (ii) for a scheme referred to in Division 165 of the A New Tax System (Goods and Services Tax) Act 1999—the principal effect of the scheme, or of part of the scheme, is that you would, apart from the adjustment provision, get the scheme benefit from the scheme directly or indirectly. (2) You are also liable to an administrative penalty if: (a) you would, apart from section 136AD or 136AE of the Income Tax Assessment Act 1936, or the application of the International Tax Agreements Act 1953 to those sections, (also the adjustment provision) get a *scheme benefit from a *scheme; and (b) subparagraph (1)(b)(i) is not satisfied for the scheme. (3) It does not matter whether the *scheme, or any part of the scheme, was entered into or carried out inside or outside Australia. 284‑150 Scheme benefits and scheme shortfall amounts (1) An entity gets a scheme benefit from a *scheme if: (a) a *tax‑related liability of the entity for an accounting period is, or could reasonably be expected to be, less than it would be apart from the scheme or a part of the scheme; or (b) an amount that the Commissioner must pay or credit to the entity under a *taxation law for an accounting period is, or could reasonably be expected to be, more than it would be apart from the scheme or a part of the scheme. (2) The amount of the *scheme benefit that you would, apart from the adjustment provision, have got from the *scheme is called your scheme shortfall amount. Note: Section 284‑215 may reduce or eliminate your scheme shortfall amount. 284‑155 Amount of penalty (1) Work out the *base penalty amount under section 284‑160. If the base penalty amount is not increased under section 284‑220 or reduced under section 284‑225, this is the amount of the penalty. (2) Otherwise, use this formula: where: BPA is the *base penalty amount. increase % is the percentage increase (if any) under section 284‑220. reduction % is the percentage reduction (if any) under section 284‑225. 284‑160 Base penalty amount: schemes The base penalty amount for a *scheme is: (a) for a scheme to which subsection 284‑145(1) applies: (i) 50% of your *scheme shortfall amount; or (ii) 25% of your scheme shortfall amount if it is *reasonably arguable that the adjustment provision does not apply; or (b) for a scheme to which subsection 284‑145(2) applies: (i) 25% of your *scheme shortfall amount; or (ii) 10% of your scheme shortfall amount if it is *reasonably arguable that the adjustment provision does not apply. Note: Section 284‑215 may reduce or eliminate your scheme shortfall amount. Subdivision 284‑D—Provisions common to Subdivisions 284‑B and 284‑C Table of sections 284‑215 Exceptions 284‑220 Increase in base penalty amount 284‑225 Reduction of base penalty amount 284‑215 Exceptions (1) If, apart from this section, you would have a *shortfall amount or a *scheme shortfall amount for an accounting period and: (a) your shortfall amount or scheme shortfall amount, or part of it, was caused by you or your agent treating a *taxation law as applying in a particular way; and (b) that way agrees with: (i) advice given to you or your agent by or on behalf of the Commissioner; or (ii) general administrative practice under that law; or (iii) a statement in a publication approved in writing by the Commissioner; your shortfall amount or scheme shortfall amount is reduced to the extent that it was caused by that treatment. (2) For the purposes of determining whether you are liable to an administrative penalty, you do not have a *shortfall amount as a result of a statement that is false or misleading in a material particular to the extent that you and your agent (if any) took reasonable care in making the statement. (3) You do not have a *shortfall amount as a result of a statement referred to in subsection 284‑75(4) to the extent that an order of a court or a decision of the *AAT supports the way you treated the *taxation law as applying. Note: Subsection 284‑75(4) deals with statements contrary to private rulings. 284‑220 Increase in base penalty amount (1) The *base penalty amount for your *shortfall amount, or for part of it, for an accounting period is increased by 20% if: (a) you took steps to prevent or obstruct the Commissioner from finding out about the shortfall amount; or (b) you became aware of the shortfall amount or part after a statement had been made to the Commissioner about the relevant *tax‑related liability and you did not tell the Commissioner about it within a reasonable time; or (c) the base penalty amount was worked out using item 1, 2 or 3 of the table in subsection 284‑90(1) and a base penalty amount for you was worked out under one of those items for a previous accounting period; or (d) the base penalty amount was worked out using item 4, 5, 6 or 8 of that table and a base penalty amount for you was worked out under that item for a previous accounting period; or (e) your liability to a penalty arises under subsection 284‑75(3) and you were liable to a penalty under that subsection for a previous accounting period. (2) The *base penalty amount for your *scheme shortfall amount, or for part of it, for an accounting period is increased by 20% if: (a) you took steps to prevent or obstruct the Commissioner from finding out about the scheme shortfall amount or the part; or (b) a base penalty amount for you was worked out under section 284‑160 for a previous accounting period. 284‑225 Reduction of base penalty amount (1) The *base penalty amount for your *shortfall amount or *scheme shortfall amount, or for part of it, for an accounting period is reduced by 20% if: (a) the Commissioner tells you that a *tax audit is to be conducted of your financial affairs for that period or a period that includes that period; and (b) after that time, you voluntarily tell the Commissioner, in the *approved form, about the shortfall or the part of it; and (c) telling the Commissioner can reasonably be estimated to have saved the Commissioner a significant amount of time or significant resources in the audit. (2) The *base penalty amount for your *shortfall amount or *scheme shortfall amount, or for part of it, for an accounting period is reduced under subsection (3) or (4) if you voluntarily tell the Commissioner, in the *approved form, about the shortfall amount or the part of it before the earlier of: (a) the day the Commissioner tells you that a *tax audit is to be conducted of your financial affairs for that period or a period that includes that period; or (b) if the Commissioner makes a public statement requesting entities to make a voluntary disclosure by a particular day about a *scheme or transaction that applies to your financial affairs—that day. (3) The *base penalty amount for your *shortfall amount, or for part of it, is: (a) reduced by 80% if the shortfall amount, or the part of, it is $1,000 or more; or (b) reduced to nil if the shortfall amount, or the part of it, is less than $1,000. (4) The *base penalty amount for your *scheme shortfall amount, or for part of it, is reduced by 80%. (5) If you voluntarily tell the Commissioner, in the *approved form, about your *shortfall amount or *scheme shortfall amount, or part of it, after the Commissioner tells you that a *tax audit is to be conducted of your financial affairs, the Commissioner may treat you as having done so before being told about the audit if the Commissioner considers it appropriate to do so in the circumstances. [The next Division is Division 286.] Division 286—Penalties for failing to lodge documents on time Table of Subdivisions 286‑A Guide to Division 286 286‑B Object of Division 286‑C Penalties for failing to lodge documents on time Subdivision 286‑A—Guide to Division 286 286‑1 What this Division is about You are liable to an administrative penalty if you are required to give a return, statement, notice or other document to the Commissioner by a particular time and you do not do so. This Division sets out when the penalty applies and how the amounts of the penalty are calculated. Subdivision 286‑B—Object of Division Table of sections 286‑25 Object of Division 286‑25 Object of Division The object of this Division is to provide a uniform administrative penalty regime for all *taxation laws to enable administrative penalties to apply for failure to give returns, notices, statements or other documents to the Commissioner on time. Subdivision 286‑C—Penalties for failing to lodge documents on time Table of sections 286‑75 Liability to penalty 286‑80 Amount of penalty [This is the end of the Guide.] 286‑75 Liability to penalty (1) You are liable to an administrative penalty if: (a) you are required under a *taxation law to give a return, notice, statement or other document to the Commissioner in the *approved form by a particular day; and (b) you do not give the return, notice, statement or document to the Commissioner in the approved form by that day. (2) Subsection (1) does not apply to a return, notice, statement or other document under any of these Acts: (a) the Superannuation Contributions Tax (Assessment and Collection) Act 1997; (b) the Superannuation Guarantee (Administration) Act 1992; or (c) the Superannuation (Self Managed Superannuation Funds) Supervisory Levy Imposition Act 1991. 286‑80 Amount of penalty (1) The amount of the penalty is worked out in this way: (a) work out the *base penalty amount under subsection (2); and (b) work out whether the base penalty amount is increased under subsection (3) or (4). (2) The base penalty amount for failing to lodge a return, notice or other document on time or in the *approved form is 1 penalty unit for each period of 28 days or part of a period of 28 days starting on the day when the document is due and ending when you give it to the Commissioner (up to a maximum of 5 penalty units). Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Example: An entity lodges a return 31 days late. The base penalty amount under subsection (2) is 2 penalty units. (3) The *base penalty amount is multiplied by 2 if: (a) the entity concerned is a *medium withholder for the month in which the return, notice or other document was required to be given; or (b) the entity's assessable income for the income year in which the return, notice or other document is required to be given is more than $1 million but less than $20 million; or (c) the entity's *current annual turnover worked out at a time in the month in which the return, notice or other document was required to be given is more than $1 million but less than $20 million. (4) The *base penalty amount is multiplied by 5 if: (a) the entity concerned is a *large withholder for the month when the return, notice or other document was required to be given; or (b) the entity's assessable income for the income year in which the return, notice or other document is required to be given is $20 million or more; or (c) the entity's *current annual turnover worked out at a time in the month in which the return, notice or other document was required to be given is $20 million or more. (5) In working out the *base penalty amount, the amount of a penalty unit is the amount applying at the start of the relevant 28 day period. (6) The fact that you have not yet lodged the relevant return, notice or other document does not prevent the Commissioner notifying you that you are liable to an administrative penalty under this Subdivision. That penalty may be later increased under this section. Note: The Commissioner is required to notify you of an administrative penalty: see section 298‑10. [The next Division is Division 288.] 3 Transitional (1) Section 284‑220 in Schedule 1 to the Taxation Administration Act 1953 has effect as if a reference in paragraph (1)(c) or (d) of that section to an item specified in this table included a reference to the corresponding former provision of the Income Tax Assessment Act 1936. 1936 Act equivalent of certain items Item Schedule 1 provision Former 1936 Act provision 1 Item 1 in the table in subsection 284‑90(1) in Schedule 1 to the Taxation Administration Act 1953 Section 226J 2 Item 2 in that table Section 226H 3 Item 3 in that table Section 226G 4 Item 4 in that table Section 226K 5 Item 5 in that table Section 226S 6 Item 6 in that table Section 226P (2) Section 284‑220 in Schedule 1 to the Taxation Administration Act 1953 has effect as if the reference in subsection 284‑220(2) to section 284‑160 in that Schedule included a reference to former section 224, 225, 226 or 226AA of the Income Tax Assessment Act 1936. 4 Application of amendments (1) Subject to this item, the amendments made by this Schedule apply to things done on or after 1 July 2000. (2) For fringe benefits tax, those amendments apply to fringe benefits tax, and to things done, for the year of tax starting on 1 April 2001 and later years. (3) Those amendments do not apply to a return, statement, notice or other document, or a statement made or scheme entered into, in relation to: (a) for income tax—the 1999‑2000 income year or an earlier income year; or (b) for fringe benefits tax—the year of tax starting on 1 April 2000 or an earlier year of tax; or (c) for other taxes—the year starting on 1 July 1999 or an earlier year. Schedule 2—Consequential and miscellaneous amendments Part 1—General A New Tax System (Australian Business Number) Act 1999 1 Section 41 (definition of electronic signature) Repeal the definition, substitute: electronic signature has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. A New Tax System (Tax Administration) Act 1999 1A At the end of subitem 2(3) of Schedule 2 Add: ; and (c) a proceeding to recover an amount of a tax‑related liability that became due and payable before 1 July 2000 if the proceeding commences on or after that day, as if it were a proceeding commenced under that section. Diesel and Alternative Fuels Grants Scheme Act 1999 2 Section 5 Insert: general interest charge means the charge worked out under Division 1 of Part IIA of the Taxation Administration Act 1953. 3 Subsections 27(2), (3), (4), (5) and (9) Repeal the subsections, substitute: (2) If an amount of a designated scheme debt that is payable by you remains unpaid after the day by which it must be paid, you are liable, by way of penalty, to pay the general interest charge on the unpaid amount. (3) You are liable to pay the charge for each day in the period that: (a) started at the beginning of the day on which the amount becomes due to be paid; and (b) finishes at the end of the last day at the end of which any of these remains unpaid: (i) the unpaid amount; (ii) general interest charge on the unpaid amount. 4 Sections 28, 29, 30, 31, 32 and 33 Repeal the sections. 5 Subsection 47(5) Omit "10 penalty units", substitute "30 penalty units". 6 Subsection 47(5) (note) Omit "Note", substitute "Note 1". 7 At the end of subsection 47(5) Add: Note 2: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Fringe Benefits Tax Assessment Act 1986 8 Subsection 101(4) Repeal the subsection. 9 Before section 114 Insert: 113A Part to stop applying This Part does not apply to a return or information relating to the year of tax starting on 1 April 2001 or a later year of tax. Note: See instead Part 4‑25 in Schedule 1 to the Taxation Administration Act 1953. 10 Section 119 Repeal the section, substitute: Note: Section 251L of the Income Tax Assessment Act 1936 prohibits a person from charging a fee for doing things under this Act on behalf of someone else unless the person is a registered tax agent or is excluded by that section. 11 Subsection 127(3) (penalty) Repeal the penalty, substitute: Penalty: 30 penalty units. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 12 Subsection 132(5) (penalty) Repeal the penalty, substitute: Penalty: 30 penalty units. Note 1: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. Note 2: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Income Tax Assessment Act 1936 13 Subsection 6(1) Insert: approved form has the meaning given by section 388‑50 in Schedule 1 to the Taxation Administration Act 1953. 14 Subsection 16(6) Omit "in the manner and form prescribed", substitute "in the approved form". 15 At the end of subsection 98A(2) Add: Note: See Division 3A of Part IIB and section 39 of the Taxation Administration Act 1953 for the rules about how the Commissioner must pay the entity. Division 3 of Part IIB allows the Commissioner to apply the amount owing as a credit against tax debts that the entity owes to the Commonwealth. 16 At the end of subsection 102AAZG(1) Add: Note: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. 17 Subsection 102AAZG(2) Omit "$3,000", substitute "30 penalty units". 18 At the end of subsection 102AAZG(2) Add: Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 19 Before section 160ARXA Insert: 160ARWA Division to stop applying This Division does not apply to a return or information relating to a franking year starting on or after 1 July 2000. Note: See instead Part 4‑25 in Schedule 1 to the Taxation Administration Act 1953. 20 At the end of section 163A Add: (10) This section does not apply to a return for the 2000‑01 year of income or a later year of income. Note: See instead Division 286 in Schedule 1 to the Taxation Administration Act 1953. 21 At the end of section 163B Add: (11) This section does not apply to a return for the 2000‑01 year of income or a later year of income. Note: See instead Division 286 in Schedule 1 to the Taxation Administration Act 1953. 22 Subsections 170(6A) and (6B) Repeal the subsections, substitute: (6AA) An application for amendment must be in the approved form. 23 At the end of section 170AA Add: (15) This section does not apply to amendments relating to the 2000‑01 year of income or a later year of income. 24 Section 170B Repeal the section. 25 Paragraph 172(1)(b) Repeal the paragraph, substitute: (b) the Commissioner must apply the amount of any tax overpaid in accordance with Divisions 3 and 3A of Part IIB of the Taxation Administration Act 1953. 26 Subsection 221AZKD(3) (definition of approved form) Omit "subsection 995‑1(1) of the Income Tax Assessment Act 1997", substitute "section 388‑50 in Schedule 1 to the Taxation Administration Act 1953". 27 Paragraph 222AJA(3)(a) Omit "the estimate", substitute "the underlying liability". 28 Before section 222A Insert: 222AA Part to stop applying This Part does not apply to statements made, or schemes entered into, in relation to the 2000‑01 year of income or a later year of income. Note: See instead Division 284 in Schedule 1 to the Taxation Administration Act 1953. 29 Section 226A Repeal the section. 30 Paragraph 226Z(b) Repeal the paragraph, substitute: (b) the taxpayer voluntarily tells the Commissioner in writing about the shortfall or part before the earlier of: (i) the day the Commissioner informs the taxpayer that a tax audit relating to the taxpayer in respect of the year was to be carried out; or (ii) if the Commissioner has made a public statement requesting taxpayers to make a voluntary disclosure by a particular day about a scheme or transaction that applies to the taxpayer's financial affairs—before that day; 31 Section 251A Insert: BAS provisions has the meaning given by subsection 995‑1(1) of the Income Tax Assessment Act 1997. 32 Section 251A Insert: BAS service has the meaning given by section 251L. 33 Section 251A Insert: taxation law means an Act of which the Commissioner has the general administration, or regulations under such an Act, but does not include: (a) Customs Acts as defined in section 4 of the Customs Act 1901; or (b) Excise Acts as defined in section 4 of the Excise Act 1901; or (c) the Diesel and Alternative Fuels Grants Scheme Act 1999; or (d) a sales tax law as defined in section 5 of the Sales Tax Assessment Act 1992; or (e) A New Tax System (Goods and Services Tax Transition) Act 1999. 34 Subsections 251L(1), (2), (3) and (4) Repeal the subsections, substitute: (1) Subject to this section, a person who is not a registered tax agent must not knowingly or recklessly demand or receive any fee for: (a) preparing or lodging on behalf of a taxpayer a return, notice, statement, application or other document about the taxpayer's liabilities under a taxation law; or (b) giving advice about a taxation law on behalf of a taxpayer; or (c) preparing or lodging on behalf of a taxpayer an objection under Part IVC of the Taxation Administration Act 1953 against an assessment, determination, notice or decision under a taxation law; or (d) applying for a review of, or instituting an appeal against, a decision on such an objection; or (e) on behalf of a taxpayer, dealing with the Commissioner or a person who is exercising powers or performing functions under a taxation law. Penalty: 200 penalty units. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 35 At the end of section 251L Add: (6) Subsection (1) does not apply to the provision of a BAS service on behalf of a taxpayer by: (a) a member (except a student member or retired member) of a recognised professional association; or (b) a bookkeeper working under the direction of a registered tax agent; or (c) where the BAS service is under Part 2‑5 in Schedule 1 to the Taxation Administration Act 1953—a person who provides payroll services to an employer; or (d) where a BAS service relates to imports or exports to which an indirect tax law (within the meaning of Part VI of the Taxation Administration Act 1953) applies—a customs broker licensed under Part XI of the Customs Act 1901. (7) A BAS service is any of these: (a) preparing or lodging an approved form about a taxpayer's liabilities, obligations or entitlements under a BAS provision; (b) giving advice about a BAS provision; (c) dealing with the Commissioner or a person who is exercising powers or performing functions under a taxation law in relation to a BAS provision. (8) Subsection (1) does not apply to the provision of any of these services on behalf of a taxpayer by a barrister or solicitor who is acting in the course of his or her profession: (a) preparing or lodging a notice, application or other document about the taxpayer's liabilities under a taxation law; (b) giving advice about a taxation law; (c) preparing or lodging an objection under Part IVC of the Taxation Administration Act 1953 against an assessment, determination, notice or decision under a taxation law; (d) applying for a review of, or instituting an appeal against, a decision on such an objection or undertaking any litigation or proceedings about a taxation law; (e) while acting for a trust or a deceased estate for which the barrister or solicitor is the trustee or legal personal representative, preparing or lodging a return or statement about the trust's or estate's liabilities, obligations or entitlements under a taxation law; (f) dealing with the Commissioner or a person who is exercising powers or performing functions under a taxation law about any of the matters specified in paragraphs (a) to (e). (9) A member of a recognised professional association can provide BAS services through an entity for: (a) if the member is a partner in a partnership—the partnership; or (b) if the member is a director or employee of a company—the company. (10) A defendant does not bear an evidential burden in relation to a matter specified in subsection (6) or (8). 36 After section 251L Insert: 251LA Recognised professional associations (1) A recognised professional association is an organisation that: (a) meets the requirements in subsections (2) to (10); or (b) is a charitable institution or a public educational institution: (i) that meets the requirements in subsections (2) to (4); and (ii) whose income is exempt from income tax under section 50‑5 of the Income Tax Assessment Act 1997; and (iii) whose sole or principal activity is providing education, training and information about taxation. (2) The organisation must: (a) be administered by a committee of management elected by and accountable to its members; and (b) not be carried on for profit or gain (excluding a reasonable salary or honorarium) to: (i) an office holder of the organisation; or (ii) its members; or (iii) members of bodies (member bodies) that are its members; and (iv) any person who is a member of that committee of management. (3) The individuals who are members of that committee must be of good fame, integrity and character. (4) The organisation must have at least 1,000 financial members who have the right to vote at meetings of the organisation. (5) An individual or member body must not be eligible for membership of the organisation unless the individual, or each individual who is a member of the member body (except a student member), has completed the requirements for: (a) a diploma or certificate in accounting from a college or institute of technical and further education involving at least 2 years' full time, or 4 years' part time, study; or (b) an Australian tertiary qualification in accountancy involving at least 3 years' full time, or 6 years' part time, study; or (c) some other similar qualification, or exemption from qualification, acceptable to the organisation; or (d) admission as a legal practitioner in Australia. (6) Under the rules of the organisation, individuals who are its members or members of its member bodies and who carry on a profession must: (a) be subject to rules controlling their conduct in the practice of that profession; and (b) be subject to discipline for breaches of those rules; and (c) be required to undertake at least 15 hours of continuing professional education in each year (unless exempted in special circumstances); and (d) if they are permitted by that organisation to be in public practice—have professional indemnity insurance. (7) The organisation must have in place adequate operational procedures to ensure it is properly managed and its rules are enforced. (8) The organisation must have satisfactory arrangements in place for: (a) notifying clients of its members or of members of its member bodies as to how to make complaints; and (b) hearing and deciding those complaints; and (c) taking disciplinary action if complaints are justified. (9) The organisation must have satisfactory arrangements in place for publishing annual statistics about: (a) the kinds and frequency of complaints (except complaints under this Act about registered tax agents); and (b) findings made as a result of the complaints; and (c) action taken as a result of those findings. (10) The organisation must be able to pay its debts as they fall due. 37 At the end of subsection 262A(1) Add: Note: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. 38 After subsection 262A(1C) Insert: (1D) A taxpayer who is a full self‑assessment taxpayer must: (a) keep a record containing particulars of the basis of the calculation of the amounts that the taxpayer specified under section 161AA in a return for a year of income; and (b) produce to the Commissioner, when and as required by the Commissioner under this Act, a document containing those particulars. 39 Subsection 262A(5) (penalty) Repeal the penalty. 40 At the end of section 262A Add: Penalty: 30 penalty units. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 41 Subsection 263(3) (penalty) Repeal the penalty, substitute: Penalty: 30 penalty units. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 42 At the end of section 462 Add: Note: There is an administrative penalty if you do not keep or retain records as required by this Division: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. 43 Section 465 Omit "$3,000", substitute "30 penalty units". 44 At the end of section 465 Add: Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 45 At the end of section 615 Add: Note: There is an administrative penalty if you do not keep or retain records as required by this Division: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. 46 Section 621 Omit "$3,000", substitute "30 penalty units". 47 At the end of section 621 Add: Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 48 At the end of subsection 245‑265(1) in Schedule 2C Add: Note: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. Income Tax Assessment Act 1997 49 Subsection 121‑20(1) (note) Omit "Note", substitute "Note 1". 50 At the end of subsection 121‑20(1) Add: Note 2: There is an administrative penalty if you do not keep records as required by this Division: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. 51 Subsection 121‑20(5) (penalty) Repeal the penalty, substitute: Penalty: 30 penalty units. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 52 Subsection 121‑25(4) (note) Omit "Note", substitute "Note 1". 53 At the end of subsection 121‑25(4) Add: Note 2: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Petroleum Resource Rent Tax Assessment Act 1987 54 Before section 101 Insert: 100A Part to stop applying This Part does not apply to a return, or information, relating to the year of tax starting on 1 July 2000 or a later year of tax. Note: See instead Division 284 in Schedule 1 to the Taxation Administration Act 1953. 55 Subsection 107(3) (penalty) Repeal the penalty, substitute: Penalty: 30 penalty units. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 56 Section 112 (penalty) Repeal the penalty, substitute: Penalty: 30 penalty units. Note 1: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Note 2: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. Superannuation Contributions Tax (Assessment and Collection) Act 1997 57 Subsection 35A(4) Repeal the subsection, substitute: (4) The prescribed penalty is 5 penalty units for each week or part of a week during which the contravention continues. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 58 Subsection 38(3) (penalty) Omit "10 penalty units", substitute "30 penalty units". 59 Subsection 38(3) (note) Omit "Note", substitute "Note 1". 60 At the end of subsection 38(3) Add: Note 2: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Superannuation Guarantee (Administration) Act 1992 61 Subsection 38(2) (definition of overpaid amount) After "Part 7", insert "of this Act or administrative penalty under Part 4‑25 in Schedule 1 to the Taxation Administration Act 1953". 62 Subsection 59(2) Repeal the subsection, substitute: (2) An employer liable to pay superannuation guarantee charge in relation to a year must: (a) keep a record in relation to the year containing details of the basis of calculation of the following amounts: (i) the employer's annual national payroll for the employer's base year; (ii) the individual superannuation guarantee shortfalls of the employer for the year; (iii) the employer's nominal interest component for the year; (iv) the employer's administration component for the year; that were specified in a superannuation guarantee statement under section 33 or a statement under section 34; or (b) produce to the Commissioner, when and as required by the Commissioner under this Act, a document containing details of the basis of calculation of the amounts referred to in paragraph (2)(a) that were specified in a superannuation guarantee statement under section 33 or a statement under section 34. 63 Sections 60 and 61 Repeal the sections. 64 Subsection 76(3) (penalty) Repeal the penalty, substitute: Penalty for contravention of this subsection: 30 penalty units. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 65 At the end of subsection 79(1) Add: Note: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1 to the Taxation Administration Act 1953. 66 Subsection 79(6) Omit "$3,000", substitute "30 penalty units". 67 At the end of subsection 79(6) Add: Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. Taxation Administration Act 1953 68 Subsection 3AA(4) Repeal the subsection. 69 Subsection 8AAB(5) (before table item 1) Insert: 1A 27 Diesel and Alternative Fuels Grants Scheme Act 1999 70 Subsection 8AAB(5) (table items 17C and 17D) Repeal the items. 71 Subsection 8AAB(5) (before table item 19) Insert: 18 298‑25 in Schedule 1 Taxation Administration Act 1953 72 Subsection 8AAG(5) Repeal the subsection, substitute: (5) The Commissioner may remit all or a part of the charge referred to in subsection (2) if the Commissioner is satisfied that: (a) there are special circumstances because of which it would be fair and reasonable to remit all or a part of the charge; or (b) it is otherwise appropriate to do so. 73 Before section 8AAI Insert: 8AAHA Division to stop applying This Division does not apply to a notification of a liability that arises on or after 1 July 2000. 74 Before section 8AAO Insert: 8AANA Division to stop applying This Division does not apply to a statement, report or form that relates to the 2000‑01 year of income or a later year of income. 75 Subsection 8AAZLH(2) After "nominated" (first occurring), insert "in the approved form". 76 After subsection 8AAZLH(2) Insert: (2A) The account must be one held by: (a) the entity, or the entity and some other entity; or (b) the entity's registered tax agent; or (c) a legal practitioner as trustee or executor for the entity. 77 At the end of section 8AAZLH Add: (5) If the Commissioner pays a refund to the credit of an account nominated by an entity, the Commissioner is taken to have paid the refund to the entity. 78 After section 8AAZM Insert: 8AAZMA Electronic payment of tax debts (1) An entity that, under subsection 33‑10(2) of the A New Tax System (Goods and Services Tax) Act 1999, is required to pay a net amount for a tax period electronically must also electronically pay the Commissioner all of its other tax debts that are due to be paid during that period. (2) A large withholder that, under subsection 16‑85(1) in Schedule 1, is required to pay an amount electronically in a particular month must also electronically pay the Commissioner all of its other tax debts that are due to be paid during that month. 80 Paragraph 14ZU(a) Omit "writing", substitute "the approved form". 81 Section 16B Repeal the section, substitute: 16B Certain liabilities to be reduced to nearest multiple of 5 cents If the amount of a tax‑related liability that arises by way of penalty or because it is assessed by the Commissioner (other than an RBA deficit or a liability to pay the general interest charge) is not a multiple of 5 cents, the amount is decreased to the nearest multiple of 5 cents. 82 Subsection 66(4) (penalty) Omit "10 penalty units", substitute "30 penalty units". 83 At the end of subsection 70(4) Add: Note 3: There is an administrative penalty if you do not keep or retain records as required by this section: see section 288‑25 in Schedule 1. 84 Subsection 16‑25(1) in Schedule 1 (note 2) Omit "civil", substitute "administrative". 85 Subsection 16‑25(2) in Schedule 1 (note 2) Omit "civil", substitute "administrative". 86 Subsection 16‑85(1) in Schedule 1 (note 3) Omit "288‑15", substitute "8AAZMA". 87 Subsection 16‑140(3) in Schedule 1 (note 2) Omit "civil", substitute "administrative". 88 At the end of section 16‑142 in Schedule 1 Add: (2) The Commissioner may register a branch of a *government entity or a *non‑profit sub‑entity if: (a) the branch or sub‑entity applies, in the *approved form, for registration; and (b) the branch or sub‑entity has an *ABN or has applied for one. A branch or sub‑entity that is so registered is also a PAYG withholding branch. 89 Subsection 16‑150(1) in Schedule 1 After "pay an amount", insert "(even if it is a nil amount)". 90 Subsection 16‑150(2) in Schedule 1 Repeal the subsection. 91 Subsection 16‑153(4) in Schedule 1 Repeal the subsection. 92 Section 16‑175 in Schedule 1 (penalty) Repeal the penalty. 93 Section 16‑195 in Schedule 1 (note) Omit "civil", substitute "administrative". 94 Section 16‑200 in Schedule 1 Repeal the section. 95 Subsections 18‑40(1) and (2) in Schedule 1 Repeal the subsections, substitute: (1) If an entity has paid to the Commissioner: (a) an amount of penalty under Subdivision 284‑C in relation to a *scheme to which section 177CA of the Income Tax Assessment Act 1936 applies for a *withholding payment; or (b) an amount of *general interest charge under section 298‑25 in relation to that amount; the person liable to pay the *withholding tax for that withholding payment is entitled to a credit equal to the amount paid by the entity. Remission (2) If: (a) an entity has paid an amount under Subdivision 284‑C in relation to a penalty mentioned in paragraph (1)(a); and (b) the Commissioner remits the whole or a part of the amount of the penalty under section 298‑20; then: (c) any credit under subsection (1) relating to the amount paid by the entity is reduced by the amount that is remitted; and (d) the Commissioner must pay to the entity an amount equal to the amount that is remitted. Note: The heading to section 18‑40 in Schedule 1 is replaced by the heading "Credit: liability under Part 4‑25". 96 Subsection 18‑100(1) in Schedule 1 (note) Omit "Note", substitute "Note 1". 97 At the end of subsection 18‑100(1) in Schedule 1 Add: Note 2: There is an administrative penalty if you do not retain the copy as required by this section: see section 288‑25 in Schedule 1. 98 Section 20‑80 in Schedule 1 (table item 15) Repeal the item. 99 Section 20‑80 in Schedule 1 (table item 20) Repeal the item. 100 At the end of section 20‑80 in Schedule 1 Add: Note: Division 298 also provides review rights about remission of administrative penalties. 101 At the end of section 45‑25 in Schedule 1 Add: (2) This section does not apply to a notification required to be lodged on or after 1 July 2000. Note: See instead Division 286 in Schedule 1 to the Taxation Administration Act 1953. 102 Paragraph 45‑230(3)(b) in Schedule 1 Repeal the paragraph, substitute: (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid. 103 Paragraph 45‑232(4)(b) in Schedule 1 Repeal the paragraph, substitute: (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid. 104 Paragraph 45‑233(5)(b) in Schedule 1 Repeal the paragraph, substitute: (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid. 105 Paragraph 45‑235(4)(b) in Schedule 1 Repeal the paragraph, substitute: (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid. 106 Section 45‑420 in Schedule 1 (link note) Repeal the link note. 107 Subsection 250‑10(2) in Schedule 1 (table items 95 and 110) Repeal the items. 108 Subsection 250‑10(2) in Schedule 1 (table item 140) Repeal the item, substitute: 140 administrative penalties Divisions 284, 286 and 288 in Schedule 1 Taxation Administration Act 1953 109 At the end of section 255‑10 in Schedule 1 Add: (3) A deferral under subsection (1) does not defer the time for giving an *approved form to the Commissioner. Note: Section 388‑55 allows the Commissioner to defer the time for giving an approved form. 110 Division 288 in Schedule 1 (heading) Repeal the heading, substitute: Division 288—Miscellaneous administrative penalties 111 Section 288‑5 in Schedule 1 Repeal the section. 112 Paragraph 288‑10(b) in Schedule 1 Omit "288‑5", substitute "388‑80". 113 Section 288‑15 in Schedule 1 Repeal the section. 114 Paragraph 288‑20(b) in Schedule 1 Repeal the paragraph, substitute: (b) under section 8AAZMA, or subsection 16‑85(1) in this Schedule, is required to pay an amount electronically; 115 After section 288‑20 in Schedule 1 Insert: 288‑25 Penalty for failure to keep or retain records (1) You are liable to an administrative penalty of 20 penalty units if: (a) a provision of a *taxation law requires you to keep or retain a record; and (b) you do not keep or retain that record in the manner required by that law. (2) Subsection (1) does not apply to: (a) documents required to be retained under Part X of the Fringe Benefits Tax Assessment Act 1986 (about statutory evidentiary documents); or (b) documents required to be kept or retained under Division 900 of the Income Tax Assessment Act 1997 (about substantiation of expenses). Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 288‑30 Penalty for failure to retain or produce declarations You are liable to an administrative penalty of 20 penalty units if: (a) a provision of a *taxation law requires you to retain or produce a declaration you made about an agent giving an *approved form to the Commissioner on your behalf; and (b) you do not retain or produce that declaration in the manner required by that law. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. 288‑35 Penalty for preventing access etc. You are liable to an administrative penalty of 20 penalty units if: (a) a provision of a *taxation law confers a power on an officer authorised under that law: (i) to enter or remain on land, premises or a place that you occupy; or (ii) to have access to documents, goods or other property in your possession; or (iii) to inspect, copy or take extracts from documents in your possession; or (iv) to inspect, examine, count, measure, weigh, gauge, te