Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_2:p9
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 9/16)
Character Range: 1340459–1343282

than one of them ends on that most recent day—any of those income years or periods that ends on that most recent day.
Note: For subparagraph (b)(iii), an entity may be allowed to give statements for a 12 month period other than an income year (see section 815‑360 of the Income Tax Assessment Act 1997).
 (4B) However, subsection (4A) is taken never to have applied to the entity in relation to the day the return, notice or other document is required to be given if:
 (a) the Commissioner makes an assessment of:
 (i) the entity's income tax for the income year that includes that day; or
 (ii) if the entity was a *subsidiary member of a *consolidated group or a *MEC group for the income year that includes that day—the income tax, for that income year, of another *member of that group; and
 (b) the entity is not a *significant global entity for that income year.
 (4C) Neither subsection (3) nor (4) applies to the entity, and the *base penalty amount is multiplied by 500, if:
 (a) the base penalty amount arises in relation to *Australian IIR/UTPR tax or *Australian DMT tax in relation to an *Applicable MNE Group for a *Fiscal Year; and
 (b) the entity concerned is a *Group Entity of the Applicable MNE Group.
 (5) In working out the *base penalty amount, the amount of a penalty unit is the amount applying at the start of the relevant 28 day period.
 (6) The fact that you have not yet given the relevant return, notice or other document does not prevent the Commissioner notifying you that you are liable to an administrative penalty under this Subdivision. That penalty may be later increased under this section.
Note: The Commissioner is required to notify you of an administrative penalty: see section 298‑10.

Division 288—Miscellaneous administrative penalties

Table of sections
288‑10 Penalty for non‑electronic notification
288‑20 Penalty for non‑electronic payment
288‑25 Penalty for failure to keep or retain records
288‑30 Penalty for failure to retain or produce declarations
288‑35 Penalty for preventing access etc.
288‑40 Penalty for failing to register or cancel registration
288‑45 Penalty for failing to issue tax invoice etc.
288‑46 Penalty for failing to ensure tax information about supplies of low value goods is included in customs documents
288‑50 Penalty for both principal and agent issuing certain documents
288‑70 Administrative penalties for life insurance companies
288‑75 Administrative penalty for a copyright or resale royalty collecting society
288‑80 Administrative penalty for over declaring conduit foreign income
288‑85 Failure by Reporting Financial Institution to obtain self‑certification
288‑95 Failing to comply etc. with release authority
288‑100 Excess money paid under release authority
288‑105 Superannuation provider to calculate crystallised pre‑July 83 amount