Penalties and interest

4. Penalty for failing to make a statement

You are liable to a penalty of 75% of the tax-related liability if both of the following apply:

• you fail to lodge a document necessary to establish your tax-related liability
• in the absence of that document, we determine your tax-related liability.

This penalty will apply if, for example, you fail to lodge your tax return and we determine your income tax liability by other methods.

Sections within Penalties for statements and unarguable positions

• 1. False or misleading statement penalty - shortfall amount
• 2. False or misleading statement penalty - no shortfall amount
• 3. Penalty for taking an income tax position that is not reasonably arguable
• 4. Penalty for failing to make a statement