Lodgment of returns and statements for the year ended 30 June 2004 - Superannuation
PENALTIES FOR NON-COMPLIANCEPENALTIES FOR NON-COMPLIANCE
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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