INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VII - PENALTY TAX  

SECTION 226E   226E   REDUCTION OF PENALTY TAX UNDER SCHEME SECTIONS - DISCLOSURE BEFORE TAX AUDIT NOTIFIED  
If:

(a) a taxpayer is liable to pay additional tax under a scheme section in respect of a year of income; and

(b) before the Commissioner had informed the taxpayer that a tax audit relating to the taxpayer in respect of the year was to be carried out, the taxpayer voluntarily told the Commissioner, in writing, about the matter because of which the wrongful behaviour provision applies;

the amount of the additional tax is reduced by 80%.