Tax Laws Amendment (Cross-Border Transfer Pricing) Act (No. 1) 2012 (115 of 2012)

Schedule 1   Amendments

Taxation Administration Act 1953

13   After subsection 284-145(2) in Schedule 1

Insert:

(2A) You are also liable to an administrative penalty if:

(a) you would, apart from a determination under section 815-30 of the Income Tax Assessment Act 1997 (also the adjustment provision ), get a *scheme benefit from a *scheme; and

(b) subparagraph (1)(b)(i) is not satisfied for the scheme.