Tax Laws Amendment (2010 Measures No. 1) Act 2010 (56 of 2010)

Schedule 6   Miscellaneous amendments

Part 6   Administrative penalties for false or misleading statements

1   Division 1 - Main amendments

Taxation Administration Act 1953

88   After section 284-220 in Schedule 1

Insert:

284-224 Reduction of base penalty amount if law was applied in an accepted way

(1) If, apart from this section, you would have a *base penalty amount because you or your *agent treated a *taxation law as applying in a particular way, and that way agreed with:

(a) advice given to you or your agent by or on behalf of the Commissioner; or

(b) general administrative practice under that law; or

(c) a statement in a publication approved in writing by the Commissioner;

your base penalty amount is reduced to the extent that it was caused by that treatment.

(2) For the purposes of subsection (1) it does not matter whether the *base penalty amount also relates to:

(a) a statement; or

(b) a failure to give the Commissioner a return, notice or other document when required; or

(c) a *scheme.