2010‑2011‑2012

The Parliament of the
Commonwealth of Australia

HOUSE OF REPRESENTATIVES

EXPOSURE DRAFT

Pay As You Go Withholding Non‑compliance Tax Bill 2012

No.      , 2012

(Treasury)

A Bill for an Act to impose a tax on directors, and associates of directors, of companies that do not comply with their Pay as you go (PAYG) withholding obligations, and for related purposes

  

Contents
1	Short title	1
2	Commencement	1
3	Imposition of tax	2
4	Amount of tax	2

A Bill for an Act to impose a tax on directors, and associates of directors, of companies that do not comply with their Pay as you go (PAYG) withholding obligations, and for related purposes
The Parliament of Australia enacts:
1  Short title
		This Act may be cited as the Pay As You Go Withholding Non‑compliance Tax Act 2012.
2  Commencement
	(1)	Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information	
Column 1	Column 2	Column 3	
Provision(s)	Commencement	Date/Details	
1.  Sections 1 and 2 and anything in this Act not elsewhere covered by this table	The day this Act receives the Royal Assent.		
2.  Sections 3 and 4	At the same time as Part 2 of Schedule 3 to the Tax Laws Amendment (2012 Measures No. 2) Act 2012 commences.		
Note: 	This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.
	(2)	Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
3  Imposition of tax
		Pay as you go withholding non‑compliance tax payable in accordance with Subdivision 18‑D in Schedule 1 to the Taxation Administration Act 1953 is imposed.
4  Amount of tax
		The amount of the tax imposed by this Act is the amount of Pay as you go withholding non‑compliance tax payable in accordance with that Subdivision.