72Failure to furnish returns or information

#### 72 Failure to furnish returns or information 72 Failure to furnish returns or information > > (1) A taxpayer who fails or neglects duly to furnish any return or information as and when required by this Act or the Chief Commissioner, or who fails to include in any return any land owned by the taxpayer, is taken to have committed a tax default for the purposes of Part 5 of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097). > > > (2) In relation to the tax default— > > > > > (a) interest is payable in accordance with Part 5 of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097) but accrues on the amount of land tax assessable to the taxpayer for the period commencing on the last day allowed for furnishing the return or information, or the correct particulars of land ownership, and ending on— > > > > > > > (i) the day on which the return or information is furnished or the correct particulars are furnished, or > > > > > > > (ii) the day on which the assessment calculated on the basis of the return or information that is required, or the correct particulars that are required, is made, or > > > > > > > (iii) the day on which the whole of the land tax assessable to the person is paid, > > > > > > whichever occurs first, and > > > > > (b) penalty tax is payable in accordance with Part 5 of the [Taxation Administration Act 1996](/view/html/inforce/current/act-1996-097) on the amount of tax unpaid. > > **s 72:** Am 1983 No 14, Sch 1 (5); 1983 No 171, Sch 1 (13); 1985 No 147, Sch 1 (9). Subst 1996 No 98, Sch 1.3 \[27\].