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Chapters

  1. Overview
  2. Change in beneficial ownership of dutiable property
  3. Change in beneficial ownership of dutiable property - Regulation
  4. Change in beneficial ownership - Grant of an Option
  5. Acknowledgement of trust
  6. Off the plan transactions
  7. Breakup of marriages and de facto relationships
  8. Transfer of certain business property between family members
  9. Surcharge purchaser duty Australian-based developer
  10. Tax avoidance schemes
  11. Other changes to the Taxation Administration Act 1996
  12. Land Tax
  13. First Home Owner Grant
  14. Other legislative changes

11. Other changes to the Taxation Administration Act 1996

Amendments to the Taxation Administration Act 1996 double the rate of penalty tax payable for a tax default by a significant global entity as defined by the Income Tax Assessment Act 1997 of the Commonwealth from 25 percent to 50 percent. The Chief Commissioner will publish guidelines outlining circumstances in which no penalty tax is payable for a tax default.

They also permit the Chief Commissioner of State Revenue to disclose tax information for the purposes of investigation and law enforcement, and tax clearance checks by certain government and other public agencies of New South Wales.

Electronic service of documents under the Taxation Administration Act 1996 can now be effected not only by email but also in other ways.

When do these changes take effect?

Amendments to the Taxation Administration Act 1996 will take affect from 19 May 2022.

Where can I find more information?