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TAXATION ADMINISTRATION ACT 1996 - SECT 26 Penalty tax in respect of certain tax defaults

TAXATION ADMINISTRATION ACT 1996 - SECT 26

Penalty tax in respect of certain tax defaults

26 Penalty tax in respect of certain tax defaults

(1) If a tax default occurs, the taxpayer is liable to pay penalty tax in addition to the amount of tax unpaid.
(2) Penalty tax imposed under this Division is in addition to interest.
(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.