Document ID: chunk:federal_register_of_legislation:C2006C00616:clause:1_8:p1
Version: federal_register_of_legislation:C2006C00616
Segment Type: clause
Provision Reference: sch 1 cl 8 (pt 1/6)
Character Range: 19114–22071

8                    Your *shortfall amount or part of it resulted you or your agent disregarding a *private ruling                                                                                                                                                                                                                                                                           25% of your *shortfall amount or part

Note: Section 284‑215 may reduce or eliminate your shortfall amount.

 (2) If 2 or more items in that table apply to you for your *shortfall amount or a part of it and one of them produces a greater *base penalty amount than any of the others, use that item.

Subdivision 284‑C—Penalties relating to schemes

Guide to Subdivision 284‑C

284‑140  What this Subdivision is about

      You are liable to an administrative penalty if you attempt to reduce your tax‑related liabilities or increase your credits through a scheme.
      This Subdivision sets out when the penalties apply and how the amounts of the penalties are calculated.

Table of sections

Operative provisions

284‑145 Liability to penalty
284‑150 Scheme benefits and scheme shortfall amounts
284‑155 Amount of penalty
284‑160 Base penalty amount: schemes

[This is the end of the Guide.]

Operative provisions

284‑145  Liability to penalty

 (1) You are liable to an administrative penalty if:
 (a) you would, apart from a provision of a *taxation law or action taken under such a provision (the adjustment provision), get a *scheme benefit from a *scheme; and
 (b) having regard to any relevant matters, it is reasonable to conclude that:
 (i) an entity that (alone or with others) entered into or carried out the scheme, or part of it, did so with the sole or dominant purpose of that entity or another entity getting a scheme benefit from the scheme; or
 (ii) for a scheme referred to in Division 165 of the A New Tax System (Goods and Services Tax) Act 1999—the principal effect of the scheme, or of part of the scheme, is that you would, apart from the adjustment provision, get the scheme benefit from the scheme directly or indirectly.

 (2) You are also liable to an administrative penalty if:
 (a) you would, apart from section 136AD or 136AE of the Income Tax Assessment Act 1936, or the application of the International Tax Agreements Act 1953 to those sections, (also the adjustment provision) get a *scheme benefit from a *scheme; and
 (b) subparagraph (1)(b)(i) is not satisfied for the scheme.

 (3) It does not matter whether the *scheme, or any part of the scheme, was entered into or carried out inside or outside Australia.

284‑150  Scheme benefits and scheme shortfall amounts

 (1) An entity gets a scheme benefit from a *scheme if:
 (a) a *tax‑related liability of the entity for an accounting period is, or could reasonably be expected to be, less than it would be apart from the scheme or a part of the scheme; or
 (b) an amount that the