Taxation Administration Act 1953
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Hide history noteNote: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rulesSECTION 284-155 AMOUNT OF PENALTY 284-155(1)
Work out the *base penalty amount under section 284-160 . If the base penalty amount is not increased under section 284-220 or reduced under section 284-225 , this is the amount of the penalty.
284-155(2)
Otherwise, use this formula:
| BPA + [BPA × (Increase % − Reduction %)] |
where:
BPA
is the *base penalty amount.
increase %
is the percentage increase (if any) under section
284-220
.
reduction %
is the percentage reduction (if any) under section
284-225
.
284-155(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.
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