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.