INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteIf:
(a) a taxpayer is liable to pay additional tax under a scheme section; and
(b) one or both of the following applies:
(i) the taxpayer took steps to prevent or hinder the Commissioner from becoming aware that the wrongful behaviour provision applied;
(ii) the taxpayer was liable to pay additional tax under any of those sections in respect of an earlier year of income;
the taxpayer is liable to pay, by way of penalty, further additional tax equal to 20% of the amount of the additional tax.
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