Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 202CD

  (1)   Where a recipient gives a payer a TFN declaration, the payer shall:

  (a)   countersign the original of the declaration;

  (b)   within 14 days after the declaration is made, send the original to the office of a Deputy Commissioner; and

  (c)   retain the copy of the declaration in accordance with subsection   (6).

Penalty:   10 penalty units.

  (4)   If:

  (a)   a TFN declaration, when given to a payer, does not quote the recipient's tax file number; and

  (b)   before the payer sends the declaration to the Deputy Commissioner, the recipient informs the payer of the recipient's tax file number;

the payer shall write the number on the declaration and on the copy.

Penalty:   10 penalty units.

  (5)   Where a tax file number has been written on a declaration under subsection   (4), the declaration shall be regarded as stating that number as the tax file number of the recipient who made the declaration.

  (5A)   A payer who fails to comply with subsection   (1) or (4) is liable to pay to the Commissioner a penalty of 10 penalty units.

Note 1:   See section   4AA of the Crimes Act 1914 for the current value of a penalty unit.

Note 2:   Division   298 in Schedule   1 to the Taxation Administration Act 1953 contains machinery provisions relating to civil penalties.

  (6)   The payer shall retain the copy of a TFN declaration until the second 1   July after the day on which the declaration ceases to have effect.