Commonwealth legislation

Lodgment of returns and statements for the year ended 30 June 2004 - Superannuation

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

3/10 complexity

ATO 2004 notice (for year ended 30 June 2004) sets criminal penalties for superannuation funds, trustees and providers who fail to lodge required returns and statements. SMSF trustees face up to 50 penalty units (50×$110 = $5,500) for not lodging annual returns.

Superannuation providers — including those submitting electronic member records or self‑assessing tax — can incur up to 60 penalty units (60×$110 = $6,600) for incorrect formats or failure to submit. The notice enforces reporting needed for tax calculation and compliance monitoring.

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Current sections

Direct links to the current provisions in Lodgment of returns and statements for the year ended 30 June 2004 - Superannuation.

PENALTIES FOR NON-COMPLIANCE

A trustee who contravenes the requirement to lodge a self managed superannuation fund return under section 36A of the SI(S) Act 1993 is guilty of an offence and if convicted is liable to a penalty not exceeding 50 penalty units (currently $5500).

If the particulars required to be reported in a statement under section 13 of the SCT(A&C)Act are kept by a superannuation provider by a data processing device, or by a person for or on behalf of a superannuation provider by a data processing device and those particulars are not given in the way specified in this notice, the superannuation provider or the person is guilty of an offence punishable on conviction by a fine of not more than 60 penalty units (currently $6600).

A self-assessing superannuation provider who does not give a statement in the way specified in this notice is guilty of an offence under section 15B(5) of the SCT(A&C) Act and if convicted is liable to penalty not exceeding 60 penalty units (currently $6600).

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(M.J. Carmody)

Commissioner of Taxation

Dated this 28th day of June 2004

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

PENALTIES FOR NON-COMPLIANCE PENALTIES FOR NON-COMPLIANCE

PENALTIES FOR NON-COMPLIANCE

(M.J. Carmody)

Commissioner of Taxation

Dated this 28th day of June 2004