Victorian Current Acts

TAXATION ADMINISTRATION ACT 1997 - SECT 29

S. 29(1) amended by No. 83/2009 s. 31(2).

    (1)     If a tax default occurs, the taxpayer is liable to pay penalty tax.

S. 29(1A) inserted by No. 83/2009 s. 31(3).

    (1A)     If a notification default occurs, the taxpayer is liable to pay penalty tax.

S. 29(2) amended by No. 83/2009 s. 31(4).

    (2)     Penalty tax imposed under this Division is in addition to interest and any amount of tax unpaid.

    (3)     Penalty tax is not payable in respect of a tax default that consists of a failure to pay—

        (a)     interest under Division 1; or

        (b)     penalty tax previously imposed under this Division.