Tax Laws Amendment (Combating Multinational Tax Avoidance) Act 2015 (170 of 2015)
Schedule 3 Scheme penalties for significant global entities
Taxation Administration Act 1953
1 At the end of section 284-155 in Schedule 1
(3) 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.