TAXATION ADMINISTRATION ACT 1996 - SECT 41
Contravention of approval
TAXATION ADMINISTRATION ACT 1996 - SECT 41
Contravention of approval
41 Contravention of approval
(1) An approval holder must not fail to comply with the conditions of a
special arrangement.
: Maximum penalty--250 penalty units.
(2) A person does
not commit an offence against subsection (1) for a failure to comply with the
conditions of a special arrangement in relation to a particular tax liability
if the provisions of the taxation law under which it is levied (disregarding
the special arrangement) are complied with in relation to that tax liability.
(3) Subsection (2) does not apply in relation to a tax liability for a
transaction or class of transactions if the approval holder has been directed
under section 39A to pay tax in respect of the transaction or class of
transactions in accordance with the special arrangement.
Note : An offence
against subsection (1) committed by a corporation is an executive liability
offence attracting executive liability for a director or other person involved
in the management of the corporation--see section 121.