139ALate filing penalty for certain returns

1. This section applies to tax returns required to be furnished under sections 33, 41 to 44, and 79 (in this Part, annual tax returns), the annual ICA return required to be furnished under section 69(1) and (2)(a) by an Australian ICA company that is not required to furnish a return of income for a tax year, the statement required to be provided under section 54B of this Act, and the employment income information required to be provided under sections 23E to 23J.

2. A taxpayer is liable to pay a late filing penalty if—

3. the taxpayer does not complete and provide on time—
   1. an annual tax return:
   2. an annual ICA return required to be furnished under section 69(1) and (2)(a):
   4. a return required to be furnished under section 57B:
   5. a statement for payment of RLWT required to be provided under section 54B:
   6. their employment income information; and
4. the Commissioner notifies the taxpayer that the penalty is payable.

5. The late filing penalty for an annual tax return for a taxpayer with net income—

6. below $100,000, is $50;
7. between $100,000 and $1,000,000 (both figures inclusive), is $250;
8. above $1,000,000, is $500.

9. The late filing penalty for an annual ICA return or reconciliation statement or employment income information or statement for RLWT is $250.

10. Except in the case of a late filing penalty resulting from employment income information or from a tax return required under sections 16 to 18 of the Goods and Services Tax Act 1985, the Commissioner must, not less than 30 days before imposing a late filing penalty,—

11. send notice to a taxpayer that a late filing penalty may be imposed if a return specified in the notice is not filed; or
12. publicly notify that a late filing penalty may be imposed on taxpayers who omit to file the required return.

13. Subsections (7) and (8) apply in relation to a late filing penalty when a taxpayer fails to provide employment income information to the Commissioner by a due date when, for the 12-month period before the due date, the taxpayer has delivered on time all the required income information.

14. The Commissioner must notify the taxpayer,—

15. first, that a late filing penalty will be payable for a further failure to provide income information on time:
16. secondly, that the penalty is payable when a further failure occurs after the notice referred to in paragraph (a) has been given.

17. For employment income information, the maximum penalty that may be imposed in relation to a month, regardless of the number of failures to provide employment income information, is $250.

18. Repealed

19. Repealed