Commonwealth Numbered Acts

Bank Account Debits Tax Administration Act 1982 No. 142 of 1982 - SECT 12

PART IV-RETURNS AND ASSESSMENTS

12. (1) If, in any month, a taxable debit is made to a taxable account kept
with a bank, the bank shall, not later than 14 days after the end of that
month or such later date as the Commissioner allows, furnish to the
Commissioner a return, or, where sub-section (3) applies, returns, relating to
all taxable debits made during that month to taxable accounts kept with the
bank.

Penalty: $5,000.

(2) Sub-section (1) does not apply in relation to a taxable debit made before
the date fixed by Proclamation under paragraph 4 (a) of the Bank
Account Debits Tax Act 1982.

(3) A bank may, with the consent of the Commissioner, furnish separate returns
under sub-section (1) in relation to taxable debits made to taxable accounts
kept with a particular branch or branches of the bank.

(4) Where the Commissioner has reason to believe that an account holder is
liable to pay tax under this Act in respect of an eligible debit or eligible
debits made to an account, the Commissioner may, by notice in writing, require
that account holder to furnish to him, within a time specified in the notice,
not being a time earlier than 21 days after the day on which the notice is
given, a return relating to all eligible debits in respect of which that
account holder is liable to pay tax under this Act during the period specified
in the notice.

(5) A person who fails to furnish a return when required to do so in
accordance with sub-section (4) is guilty of an offence punishable on
conviction by a penalty not exceeding $2,000.

(6) A return under this section shall be in accordance with a form approved by
the Commissioner and shall contain such particulars as are required by the
form.