TAXATION ADMINISTRATION ACT 1953
Note: See section 3AA .Chapter 4 - Generic assessment, collection and recovery rules
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 %)]|
is the percentage increase (if any) under section 284-220 .
is the percentage reduction (if any) under section 284-225 .
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.