Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
Work out the *base penalty amount under section 284-90 . 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. 284-85(2)
Otherwise, use this formula:
Note: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rules
PART 4-25
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CHARGES AND PENALTIES
Division 284
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Administrative penalties for statements, unarguable positions and schemes
Subdivision 284-B
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Penalties relating to statements
Operative provisions
SECTION 284-85
AMOUNT OF PENALTY
284-85(1)
Work out the *base penalty amount under section 284-90 . 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. 284-85(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
.
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