(1) A self assessor registered under
part 2 or 3 must for a standard self assessment—
(a) lodge a transaction
statement, and the documents required to accompany the statement, for an
instrument or transaction as required by the notice of the self assessor’s
registration; and
(b) stamp the instrument or ELN transaction document to
which the transaction statement relates by endorsing it in the way mentioned
in subsection (4) —
(i) for a self assessor registered under part 2 —not
later than when the duty, assessed interest and penalty tax on the instrument
or transaction are paid by the self assessor to the commissioner; or
(ii) for
a self assessor registered under part 3 —
(A) if the duty, assessed interest
and penalty tax on the instrument or transaction are received by the self
assessor—not later than when the duty, assessed interest and penalty tax are
paid by the self assessor to the commissioner; or
(B) otherwise—within 1
day after the self assessor becomes aware that the duty, assessed interest and
penalty tax on the instrument or transaction have been paid to the
commissioner.
Penalty—
Maximum penalty—100 penalty units.
Notes—
1 For provisions about payments by self assessors who are tax
agents under the Administration Act , see section 35 of that Act.
2 For when
a self assessor is taken to have stamped an ELN transaction document, see
subsection (7) .
(1A) Subsection (1) (b) does not apply if the self
assessor’s notice of registration states that no endorsements are required
on the instruments or ELN transaction documents.
(2) For subsection (1) (a) ,
if the self assessor is registered under part 2 , the self assessor must lodge
the transaction statement and documents by the date that is 30 days after the
date liability for duty for the instrument or transaction arises.
(3) For
subsection (1) (a) , if the self assessor is registered under part 3 , the
self assessor must lodge the transaction statement and documents by the later
of the following dates—
(a) the date that is 30 days after the date
liability for duty for the instrument or transaction arises;
(b) the date
that is 7 days after the self assessor receives, under section 471E(1) (a) ,
all instruments and other documents relating to the instrument or transaction.
(4) For subsection (1) (b) —
(a) an instrument or ELN transaction document
for which duty is imposed must be endorsed—
(i) if the self assessor’s
notice of registration states the way in which the instrument or ELN
transaction document must be endorsed—in the way stated; or
(ii) otherwise,
with the following—
(A) a reference to this Act’s short title;
(B) the
self assessor’s client number;
(C) the transaction number for the
instrument or ELN transaction document;
(D) the amounts of any duty, assessed
interest and penalty tax paid on the instrument or ELN transaction document;
(E) the date the endorsement is made;
(F) the signature of the individual
completing the endorsement; and
(b) another instrument must be endorsed in
the way stated in the self assessor’s notice of registration.
(5)
Subsection (4) (a) (ii) (F) does not apply to an ELN transaction document.
(6) Subsection (7) applies if—
(a) a self assessor registered under part 2
or 3 validly assigns a transaction number to an ELN transaction document for
an ELN transfer or ELN lodgement; or
(b) a transaction number is assigned to
an ELN transaction document for an ELN transfer or ELN lodgement, and notified
to a self assessor registered under part 2 or 3 , by a system administered by
the commissioner.
(7) For subsection (1) (b) , the ELN transaction document
is taken to have been stamped by the self assessor immediately after the ELN
workspace for the ELN transfer or ELN lodgement is locked.
Note—
An
endorsement of an ELN transaction document stops having effect if the ELN
workspace for the ELN transfer or ELN lodgement is unlocked—see section 156W.
(8) Subsection (7) does not affect the self assessor’s compliance with
the requirements mentioned in subsection (4) .
