54Charges and civil penalties for failing to meet obligations

54 Charges and civil penalties for failing to meet obligations

(1) Part 4‑25 in Schedule 1 to the Taxation Administration Act 1953 has effect as if: (a) any compulsory AASL repayment amount of a person were income tax payable by the person in respect of the income year in respect of which the assessment of that debt was made; and (b) this Chapter, paragraph 8(1)(c) and Division 3 of Part 4.1, were income tax laws. (2) Subsection (1) does not have the effect of making a person liable to a penalty for any act or omission that happened before the commencement of this subsection.