Taxation Administration Act 1953
Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).
Note: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rulesCh 4 heading inserted by No 73 of 2006 , s 3 and Sch 5 item 42, effective 1 July 2006.
Pt 4-25 heading substituted by No 32 of 2006 , s 3 and Sch 3 item 11, applicable in relation to conduct engaged in on or after 6 April 2006. The heading formerly read:
PART 4-25 - CHARGES AND ADMINISTRATIVE PENALTIES FOR FAILING TO MEET OBLIGATIONS
Pt 4-25 (heading) substituted by No 101 of 2004.
Pt 4-25 inserted by No 179 of 1999.
Div 284 inserted by No 91 of 2000.
SECTION 284-155 AMOUNT OF PENALTY 284-155(1)
Work out the *base penalty amount under section 284-160 . If the base penalty amount is not increased under section 284-220 or reduced under section 284-225 , this is the amount of the penalty.
284-155(2)
Otherwise, use this formula:
BPA + [BPA × (Increase % − Reduction %)] |
where:
BPA
is the *base penalty amount.
increase %
is the percentage increase (if any) under section
284-220
.
reduction %
is the percentage reduction (if any) under section
284-225
.
284-155(3)
However, the amount of the penalty is twice the amount worked out under subsection (1) or (2) of this section if:
(a) you are a *significant global entity during an income year that consists of, or includes all or part of, the accounting period to which your *scheme shortfall amount relates; and
(b) it is not *reasonably arguable that the adjustment provision does not apply.
S 284-155(3) inserted by No 170 of 2015, s 3 and Sch 3 item 1, applicable in relation to any scheme benefit that an entity gets in relation to an income year commencing on or after 1 July 2015, whether the scheme to which the scheme benefit relates was entered into, or commenced to be carried out, before, on or after 1 July 2015.
S 284-155 inserted by No 91 of 2000.
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