62CSelf-assessment provided in annual statement

62C Self-assessment provided in annual statement

62C Self-assessment provided in annual statement

(1) An assessment provided by a scheme participant in an annual statement is taken to have been made on the last of the following days—

(a) 15 December in the year the compliance period ends, or

(b) the day on which the annual statement is lodged.

(2) The liability of a scheme participant for a shortfall penalty for a compliance period is the assessment of the liability provided by the participant in the annual statement for the compliance period, unless another assessment is or has been made by the Scheme Regulator.

cl 62C: Ins 2022 (607), Sch 1[57].