Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
A New Tax System (Tax Administration) Bill (No. 2) 2000
Schedule 5 Consequential amendment of Chapter 6 (the Dictionary) of the Income Tax Assessment Act 1997

   

1  Subsection 995-1(1) (definition of approved form )

Repeal the definition, substitute:

approved form has the meaning given by section 388-50 in Schedule 1 to the Taxation Administration Act 1953 .

1A  Subsection 995-1(1) (after paragraph (d) of the definition of BAS provisions )

Insert:

             ; and (e)  sales tax law as defined in section 5 of the Sales Tax Assessment Act 1992 .

2  Subsection 995-1(1)

Insert:

base penalty amount : the base penalty amount for calculating the amount of an administrative penalty is worked out under the relevant provision in this table:

 

Base penalty amount

Item

For a penalty for this:

See:

1

False or misleading statement

Position not reasonably arguable

Section 284-90 in Schedule 1 to the Taxation Administration Act 1953

2

* Schemes

Section 284-160 in that Schedule

3

Failure to lodge returns etc.

Section 286-80 in that Schedule

3  Subsection 995-1(1)

Insert:

current annual turnover has the meaning given by section 195-1 of the * GST Act.

4  Subsection 995-1(1) (definition of electronic signature )

Repeal the definition, substitute:

electronic signature of an entity means a unique identification of the entity in electronic form that is approved by the Commissioner.

5  Subsection 995-1(1)

Insert:

fringe benefits taxable amount has the meaning given by section 5B of the Fringe Benefits Tax Assessment Act 1986 .

6  Subsection 995-1(1)

Insert:

government entity has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999 .

6A  Subsection 995-1(1)

Insert:

input taxed has the meaning given by section 195-1 of the * GST Act.

7  Subsection 995-1(1)

Insert:

non-profit sub-entity has the meaning given by section 195-1 of the * GST Act.

8  Subsection 995-1(1) (definition of PAYE earner )

Repeal the definition.

9  Subsection 995-1(1) (definition of PAYE earnings )

Repeal the definition.

10  Subsection 995-1(1)

Insert:

reasonably arguable has the meaning given by section 284-15 in Schedule 1 to the Taxation Administration Act 1953 .

10A  Subsection 995-1(1) (paragraphs (b) and (c) of the definition of recognised tax adviser )

Repeal the paragraphs, substitute:

                     (b)  a legal practitioner.

11  Subsection 995-1(1)

Insert:

scheme benefit has the meaning given by section 284-150 in Schedule 1 to the Taxation Administration Act 1953 .

12  Subsection 995-1(1)

Insert:

scheme shortfall amount has the meaning given by section 284-150 in Schedule 1 to the Taxation Administration Act 1953 .

13  Subsection 995-1(1)

Insert:

shortfall amount has the meaning give by section 284-80 in Schedule 1 to the Taxation Administration Act 1953 .

14  Subsection 995-1(1) (definition of tax audit )

Repeal the definition, substitute:

tax audit means an examination by the Commissioner of an entity’s financial affairs for the purposes of a * taxation law.

15  Subsection 995-1(1)

Insert:

taxable importation has the meaning given by section 195-1 of the * GST Act.

16  Subsection 995-1(1)

Insert:

telephone signature of an entity is a unique identification of the entity that can be given by telephone and that is approved by the Commissioner.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(76/00)