353‑17 Offshore information notices353‑17 Offshore information notices

353‑17 Offshore information notices

For the purposes of the *MRRT law, section 264A (about offshore information notices) of the Income Tax Assessment Act 1936 applies as if: (a) a reference to a taxpayer in that section were a reference to an entity; and (b) a reference to an assessment in that section were a reference to an assessment under Division 155 of this Schedule relating to *MRRT; and (c) a reference to the Income Tax Assessment Act 1936 in that section were a reference to the MRRT law.

32 After paragraph 357‑55(f) in Schedule 1

Insert:

(faa) \*MRRT;

33 Subsection 360‑5(1) in Schedule 1

After “relevant provision”, insert “(other than a provision about *MRRT)”.

34 Section 444‑1 in Schedule 1

After “incapacitated entities”, insert “, trusts”.

35 Subsection 444‑5(1) in Schedule 1

After “this Schedule”, insert “, the *MRRT law”.

36 After subsection 444‑5(1) in Schedule 1

Insert:

(1A) An amount that is payable under the *MRRT law by an unincorporated association or body of entities is payable by each member of the committee of management of the association or body. (1B) If there is more than one such member, those members are jointly and severally liable to pay the amount.

37 Subsection 444‑5(2) in Schedule 1

After “this Schedule”, insert “, the *MRRT law”.

38 Subsections 444‑10(1) and (2) in Schedule 1

After “an *indirect tax law”, insert “and the *MRRT law”.

39 Subsection 444‑10(3) in Schedule 1

After “an *indirect tax law”, insert “or the *MRRT law”.

40 Subsection 444‑10(5) in Schedule 1

After “an *indirect tax law”, insert “and the *MRRT law”.

41 Subsection 444‑15(1) in Schedule 1

After “an *indirect tax law”, insert “or the *MRRT law”.

42 Subsections 444‑30(1), (2) and (3) in Schedule 1

After “this Schedule”, insert “, the *MRRT law”.

43 Subsections 444‑70(1) and (2) in Schedule 1

After “an *indirect tax law”, insert “or the *MRRT law”.

44 At the end of Division 444 in Schedule 1

Add: