Commonwealth act

Taxation (Unpaid Company Tax—Promoters) Act 1982

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

121 of 1982

Collection

act

Plain English Summary

2/10 complexity

What it does: This Act imposes a penalty tax on people who promote tax avoidance schemes involving unpaid company tax.

How it works:

It operates as a companion to the Taxation (Unpaid Company Tax) Assessment Act 1982 (which contains the detailed rules and definitions)
When someone has a "promoters taxable amount" under that Assessment Act, this Act imposes tax on it
The tax equals the full amount of the benefit received (so if the taxable amount is $50,000, the tax is $50,000)

Who it affects: People (promoters) who market, sell, or otherwise promote schemes designed to help companies avoid paying tax.

Why it matters: This was part of a 1982 package targeting aggressive tax avoidance, ensuring that promoters themselves—not just the tax-avoiding companies—could be penalized dollar-for-dollar for their gains.

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Current sections

Direct links to the current provisions in Taxation (Unpaid Company Tax—Promoters) Act 1982.

Taxation (Unpaid Company Tax—Promoters) Act 1982

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Taxation (Unpaid Company Tax—Promoters) Act 1982

No. 121 of 1982

An Act to impose a tax in respect of certain unpaid company tax

[Assented to 13 December 1982]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the Taxation (Unpaid Company Tax—Promoters) Act 1982.

Commencement

This Act shall come into operation on the day on which the Taxation (Unpaid Company Tax) Assessment Act 1982 comes into operation.

Incorporation

The Taxation (Unpaid Company Tax) Assessment Act 1982 is incorporated and shall be read as one with this Act.

Imposition of tax

Where at any time a promoters taxable amount exists under the Taxation (Unpaid Company Tax) Assessment Act 1982, tax is imposed, and shall be levied and paid, on that promoters taxable amount.

Amount of tax

5. The amount of the tax imposed by this Act in respect of a promoters taxable amount is an amount equal to the promoters taxable amount.

Source text

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

1 Taxation (Unpaid Company Tax—Promoters) Act 1982

Taxation (Unpaid Company Tax—Promoters) Act 1982

No. 121 of 1982

An Act to impose a tax in respect of certain unpaid company tax

[Assented to 13 December 1982]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title

This Act may be cited as the Taxation (Unpaid Company Tax—Promoters) Act 1982.

Commencement

This Act shall come into operation on the day on which the Taxation (Unpaid Company Tax) Assessment Act 1982 comes into operation.

Incorporation

The Taxation (Unpaid Company Tax) Assessment Act 1982 is incorporated and shall be read as one with this Act.

Imposition of tax

Where at any time a promoters taxable amount exists under the Taxation (Unpaid Company Tax) Assessment Act 1982, tax is imposed, and shall be levied and paid, on that promoters taxable amount.

Amount of tax

5. The amount of the tax imposed by this Act in respect of a promoters taxable amount is an amount equal to the promoters taxable amount.