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DUTIES ACT 2001 - SECT 480 Offences about self assessments—endorsements of instruments

DUTIES ACT 2001 - SECT 480

Offences about self assessments—endorsements of instruments

480 Offences about self assessments—endorsements of instruments

(1) A self assessor registered under chapter 12 , part 2 , must not endorse an instrument under section 455 or 455A unless the amount of duty and any assessed interest and penalty tax has—
(a) if paragraph (b) does not apply—been paid to the commissioner; or
(b) if the self assessor is a financial institution and the instrument is a mortgage under which the self assessor is the mortgagee—been received by the self assessor.
Penalty—
Maximum penalty—200 penalty units.
Note—
This provision is an executive liability provision under the Taxation Administration Act 2001 , section 140 .
(2) A self assessor registered under chapter 12 , part 3 , must not endorse an instrument under section 455 or 455A unless the amount of duty and any assessed interest and penalty tax has been paid to the commissioner or received by the self assessor.
Penalty—
Maximum penalty—200 penalty units.
Note—
This provision is an executive liability provision under the Taxation Administration Act 2001 , section 140 .