39
CurrentPenalty tax in respect of certain tax defaults
Part 5Interest and penalty tax
Division 2Penalty tax
39 Penalty tax in respect of certain tax defaults
If a tax default occurs, the taxpayer is liable to pay penalty tax in addition to the amount of tax unpaid.
Penalty tax is in addition to interest.
Penalty tax is not payable in respect of a tax default that consists of a failure to pay – interest; or penalty tax previously imposed.
This Act’s bill:Second reading speech
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