97Agent for absentee principal winding-up business

#### 97 Agent for absentee principal winding-up business 97 Agent for absentee principal winding-up business > > (1) If an agent for an absentee principal has been required by the principal to wind-up the principal’s business, the agent must notify the Chief Commissioner of the intention to wind-up the business before taking any steps to wind it up. > > > > Maximum penalty—5 penalty units. > > > (2) After receiving notice under subsection (1), the Chief Commissioner may notify the agent in writing of— > > > > > (a) the amount (if any) of payroll tax for which the principal is liable, and > > > > > (b) the date (at least 21 days after the notice is given) by which the tax must be paid. > > > (3) An agent who is given notice under subsection (2) must— > > > > > (a) set aside an amount out of the assets of the principal’s business that is sufficient to pay the tax, and > > > > > (b) pay the tax to the Chief Commissioner by the date specified in the notice. > > > > Maximum penalty—5 penalty units. > > > (4) If an agent contravenes this section, the agent is personally liable for any tax that becomes payable in respect of the principal’s business.