South Australian Consolidated Acts South Australian Consolidated Acts15—Returns in respect of taxable debits
(1) If, in any month,
a taxable debit is made to a taxable account kept with a
financial institution, the financial institution must, not later than 14 days
after the end of that month or such later date as the Commissioner allows,
lodge with the Commissioner a return, or, where subsection (2) applies,
returns, relating to all taxable debits made during that month to
taxable accounts kept with the financial institution.
(2) A
financial institution may, with the consent of the Commissioner, lodge
separate returns under subsection (1) in relation to taxable debits made to
taxable accounts kept with a particular branch or branches of the financial
institution.
(3) Where the
Commissioner has reason to believe that an account holder is liable to pay tax
by virtue of section 10(2) 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 lodge with the Commissioner, 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 by virtue of section 10(2) during the
period specified in the notice.
(3a) If a return is
not lodged with the Commissioner as required under subsection (3) relating to
eligible debits in respect of which an account holder is liable to pay tax by
virtue of section 10(2), then, for the purposes of Part 5 of the
Taxation Administration Act 1996 —
(a) that
failure is to be taken to have been a tax default; and
(b)
interest and penalty tax (if any) are to be calculated by reference to the tax
payable on the eligible debits as if the tax had been required to be paid
within the time within which the return was required to be lodged with the
Commissioner.