Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of Part IIB of the Taxation Administration Act 1953 (Running balance accounts, application of payments and credits, and related matters):
(a) treat the penalty in the same way as a primary tax debt; and
(b) treat general interest charge (if any) under section 175 - 65 in respect of the penalty in the same way as a primary tax debt.
Note: This allows the Commissioner of Taxation to add the penalty to an entity's running balance account.
(2) For the purposes of Chapter 4 in Schedule 1 to the Taxation Administration Act 1953 (Generic collection and recovery rules):
(a) treat the penalty in the same way as a tax - related liability; and
(b) treat general interest charge (if any) under section 175 - 65 in respect of the penalty in the same way as a tax - related liability.
Note: When the penalty is due and payable (see section 175 - 55), it is a debt due to the Commonwealth and payable to the Commissioner of Taxation (see section 255 - 5 in Schedule 1 to the Taxation Administration Act 1953 ).
(3) If the Commissioner gives an entity a written notice under section 175 - 50, the Commissioner must notify the Commissioner of Taxation that he or she has done so.
(4) If the Commissioner later remits all or a part of the penalty under section 175 - 60, the Commissioner must notify the Commissioner of Taxation that he or she has done so.
(5) The Commissioner of Taxation must notify the Commissioner of any action taken to recover a debt attributable to the penalty, if the Commissioner requests the Commissioner of Taxation in writing to do so.