444-120
CurrentJoint and several liability for all trustees
Volume 3Schedule 1, Chapter 4, Part 4-30 to Chapter 5, Part 5-100 (sections 308-1 to 990-5)
Schedule 1Collection and recovery of income tax and other liabilities
Chapter 5Administration
Part 5-45Application of taxation laws to certain entities
Division 444Obligations of entities on behalf of other entities
Subdivision 444-FTrusts
444-120 Joint and several liability for all trustees
(1)
If:
(a)
a trust has more than one trustee; and
(b)
a civil penalty is imposed in relation to a contravention of a provision of this Schedule or an *indirect tax law on one of those trustees;
then all the trustees are jointly and severally liable to pay the amount of the penalty.
(2)
A reference in this section to a contravention of a provision of this Schedule does not include a contravention of a provision of the *Minimum Tax law.
Note:
See Subdivision 128‑B in relation to such contraventions.
This Act’s bill:Second reading speech
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