Tax compliance penalties for trusts consolidate late-return, audit, related-person benefit, and procedural defaults while preserving reasonable-cause protection. Section 428 levies fees for late returns, audit failures, and missing accountant's reports, using income-based amounts for return defaults and delay-based ... Summary
Tax compliance penalties for trusts consolidate late-return, audit, related-person benefit, and procedural defaults while preserving reasonable-cause protection.
Section 428 levies fees for late returns, audit failures, and missing accountant's reports, using income-based amounts for return defaults and delay-based amounts for audit and report defaults. Section 445 permits penalties on registered non-profit organisations for income applied for the benefit of related persons where it constitutes specified income, with enhanced consequences for repeated violations. Section 464 covers failures to furnish prescribed institutional documents, statements, or certificates. Section 465 imposes fixed and daily penalties for procedural non-compliance, subject to statutory penalty caps and a reasonable cause defence for specified defaults.
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