Taxes Management Act 1970 section 71

Bodies of persons

Section 71 establishes that bodies of persons are chargeable to income tax in the same way as individuals, and sets out the responsibilities of their financial officers for assessment and payment of that tax.

• Every body of persons is chargeable to income tax in the same manner as any individual under the Income Tax Acts.
• The treasurer, auditor, receiver or equivalent officer of the body is personally answerable for ensuring the body is assessed and that tax is paid.
• Such officers may retain sufficient funds from money they handle on behalf of the body to cover the income tax charged.
• Officers who make tax payments on behalf of the body in accordance with the Income Tax Acts are indemnified against personal liability for those payments.