Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 4-25
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CHARGES AND PENALTIES
Division 284
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Administrative penalties for statements, unarguable positions and schemes
Subdivision 284-C
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Penalties relating to schemes
Operative provisions
SECTION 284-165 EXCEPTION - THRESHOLD FOR PENALTY ARISING FROM CROSS-BORDER TRANSFER PRICING 284-165(1)
You are not liable to an administrative penalty under subsection 284-145(2B) if your * scheme shortfall amount is equal to or less than your * reasonably arguable threshold.
284-165(2)
You are also not liable to an administrative penalty under that subsection if:
(a) you have the * scheme shortfall amount because of section 284-30 (about trusts); and
(b) the amount by which the trust would, apart from the application of Subdivision 815-B or 815-C of the Income Tax Assessment Act 1997 , have had a greater * net income, or a lesser * tax loss, is equal to or less than the trust ' s * reasonably arguable threshold.
284-165(3)
You are also not liable to an administrative penalty under that subsection if:
(a) you have the * scheme shortfall amount because you are a partner in a partnership that participated in the * scheme; and
(b) the amount by which the partnership would, apart from the application of Subdivision 815-B or 815-C of that Act, have had a greater * net income, or a lesser * partnership loss, is equal to or less than the partnership ' s * reasonably arguable threshold.
Nil amounts
284-165(4)
For the purposes of this section:
(a) treat a trust or a partnership that has no * net income for an income year as having a net income for the year of a nil amount; and
(b) treat a trust that has no * tax loss for an income year as having a tax loss for the year of a nil amount; and
(c) treat a partnership that has no * partnership loss for an income year as having a partnership loss for the year of a nil amount.
View history note
Hide history noteNote: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rulesSECTION 284-165 EXCEPTION - THRESHOLD FOR PENALTY ARISING FROM CROSS-BORDER TRANSFER PRICING 284-165(1)
You are not liable to an administrative penalty under subsection 284-145(2B) if your * scheme shortfall amount is equal to or less than your * reasonably arguable threshold.
284-165(2)
You are also not liable to an administrative penalty under that subsection if:
(a) you have the * scheme shortfall amount because of section 284-30 (about trusts); and
(b) the amount by which the trust would, apart from the application of Subdivision 815-B or 815-C of the Income Tax Assessment Act 1997 , have had a greater * net income, or a lesser * tax loss, is equal to or less than the trust ' s * reasonably arguable threshold.
284-165(3)
You are also not liable to an administrative penalty under that subsection if:
(a) you have the * scheme shortfall amount because you are a partner in a partnership that participated in the * scheme; and
(b) the amount by which the partnership would, apart from the application of Subdivision 815-B or 815-C of that Act, have had a greater * net income, or a lesser * partnership loss, is equal to or less than the partnership ' s * reasonably arguable threshold.
Nil amounts
284-165(4)
For the purposes of this section:
(a) treat a trust or a partnership that has no * net income for an income year as having a net income for the year of a nil amount; and
(b) treat a trust that has no * tax loss for an income year as having a tax loss for the year of a nil amount; and
(c) treat a partnership that has no * partnership loss for an income year as having a partnership loss for the year of a nil amount.
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