Commonwealth act

Pay As You Go Withholding Non-compliance Tax Act 2012

In ForceCTH

Jurisdiction

Commonwealth

Act Number

95 of 2012

Collection

act

Plain English Summary

5/10 complexity

This Act makes directors and their associates financially liable when a company fails to meet its Pay As You Go (PAYG) withholding obligations. The Act itself imposes the tax but delegates the calculation, payment and enforcement rules to Subdivision 18‑D of Schedule 1 to the Taxation Administration Act 1953 (see ss 3–4). It matters because it places a direct monetary consequence on individuals connected to non‑complying companies, shifting enforcement mechanics to existing tax administration rules.

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Current sections

Direct links to the current provisions in Pay As You Go Withholding Non-compliance Tax Act 2012.

Pay As You Go Withholding Non-compliance Tax Act 2012

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View image in the official source

Pay As You Go Withholding Non‑compliance Tax Act 2012

No. 95, 2012

An Act to impose a tax on directors, and associates of directors, of companies that do not comply with their Pay as you go (PAYG) withholding obligations, and for related purposes

Contents

1 Short title

2 Commencement

3 Imposition of tax

4 Amount of tax

View image in the official source

Pay As You Go Withholding Non-compliance Tax Act 2012

No. 95, 2012

An Act to impose a tax on directors, and associates of directors, of companies that do not comply with their Pay as you go (PAYG) withholding obligations, and for related purposes

[Assented to 29 June 2012]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Pay As You Go Withholding Non‑compliance Tax Act 2012.

2 Commencement

(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
1. Sections 1 and 2 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 29 June 2012
1. Sections 3 and 4 At the same time as Part 2 of Schedule 1 to the Tax Laws Amendment (2012 Measures No. 2) Act 2012 commences. 30 June 2012

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

(2) Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3 Imposition of tax

Pay as you go withholding non‑compliance tax payable in accordance with Subdivision 18‑D in Schedule 1 to the Taxation Administration Act 1953 is imposed.

4 Amount of tax

The amount of the tax imposed by this Act is the amount of Pay as you go withholding non‑compliance tax payable in accordance with that Subdivision.

[Minister’s second reading speech made in—

House of Representatives on 24 May 2012

Senate on 21 June 2012]

(99/12)

Source text

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

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8

?xml version="1.0" encoding="utf-8" standalone="no"?>

Pay As You Go Withholding Non‑compliance Tax Act 2012

No. 95, 2012

An Act to impose a tax on directors, and associates of directors, of companies that do not comply with their Pay as you go (PAYG) withholding obligations, and for related purposes

Contents

1 Short title

2 Commencement

3 Imposition of tax

4 Amount of tax

Pay As You Go Withholding Non-compliance Tax Act 2012

No. 95, 2012

An Act to impose a tax on directors, and associates of directors, of companies that do not comply with their Pay as you go (PAYG) withholding obligations, and for related purposes

[Assented to 29 June 2012]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Pay As You Go Withholding Non‑compliance Tax Act 2012.

2 Commencement

Commencement information
Column 1 Column 2 Column 3
Provision(s) Commencement Date/Details
1. Sections 1 and 2 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 29 June 2012
1. Sections 3 and 4 At the same time as Part 2 of Schedule 1 to the Tax Laws Amendment (2012 Measures No. 2) Act 2012 commences. 30 June 2012

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.