95AFailure to notify amount of tax payable on assessable dealings with goods

#### 95A Failure to notify amount of tax payable on assessable dealings with goods (1) A taxpayer who fails to notify the amount of tax payable on an assessable dealing with goods in a return on or before the day on which the taxpayer must lodge a return under section 61 is liable to pay the failure to notify penalty on the amount of the tax payable. (2) A taxpayer who notifies the amount of tax payable on an assessable dealing with goods in a return that is less than the correct amount of the tax payable is liable to pay the failure to notify penalty on the amount of the shortfall. (3) The failure to notify penalty is payable for each day in the period that: (a) started at the beginning of the day by which the taxpayer was required to lodge the return; and (b) finishes at the end of the day before the Commissioner receives notification from the taxpayer, or otherwise becomes aware, of the correct amount. (4) The failure to notify penalty means the penalty worked out under Division 2 of Part IIA of the Taxation Administration Act 1953.