INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VII - PENALTY TAX  

SECTION 226C  

226C   FURTHER PENALTY TAX - SCHEME SECTIONS  
If:

(a) a taxpayer is liable to pay additional tax under a scheme section; and

(b) one or both of the following applies:

(i) the taxpayer took steps to prevent or hinder the Commissioner from becoming aware that the wrongful behaviour provision applied;

(ii) the taxpayer was liable to pay additional tax under any of those sections in respect of an earlier year of income;

the taxpayer is liable to pay, by way of penalty, further additional tax equal to 20% of the amount of the additional tax.