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.