Document ID: chunk:federal_register_of_legislation:C2008A00032:clause:1_38
Version: federal_register_of_legislation:C2008A00032
Segment Type: clause
Provision Reference: sch 1 cl 38
Character Range: 37856–38487

38  At the end of section 16‑195 in Schedule 1
Add:

 (2) Subsection (3) applies if an entity has paid an amount of penalty under section 12‑415 to the Commissioner for a failure to give a notice, or to make details available on a website, as required by section 12‑395 in relation to an amount (the relevant amount).

 (3) The entity may recover from another entity that is liable to pay *managed investment trust withholding tax in relation to an amount attributable to the relevant amount the lesser of:
 (a) an amount equal to the amount of that tax that the other entity is liable to pay; and
 (b) the amount of the penalty.