Document ID: chunk:federal_register_of_legislation:C2012C00706:clause:3_54
Version: federal_register_of_legislation:C2012C00706
Segment Type: clause
Provision Reference: sch 3 cl 54
Character Range: 99024–100540

54  No shortfall interest charge or shortfall penalty arises from pre or interim rules
(1) Disregard a deduction covered by subitem (3) in working out under subsection 280‑100(1) in Schedule 1 to the Taxation Administration Act 1953 the extent (if any) to which an entity is liable to pay an additional amount of income tax because of an amended assessment.
(2) Disregard a deduction covered by subitem (3) in working out the amount (if any) of a shortfall amount under subsection 284‑80(1) in that Schedule.
(3) A deduction is covered by this subitem if the pre rules or interim rules apply in working out the amount of the deduction.
Notes to the Tax Laws Amendment (2012 Measures No. 2) Act 2012
Note 1
The Tax Laws Amendment (2012 Measures No. 2) Act 2012 as shown in this compilation comprises Act No. 99, 2012 amended as indicated in the Tables below.

Table of Acts
Act                                                Number     Date          Date of commencement      Application, saving or transitional provisions
                                                   and year   of Assent
Tax Laws Amendment (2012 Measures No. 2) Act 2012  99, 2012   29 June 2012  See s. 2(1)
Tax Laws Amendment (2012 Measures No. 4) Act 2012  142, 2012  28 Sept 2012  Schedule 3: Royal Assent  —

Table of Amendments
ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted
Provision affected                                                                                How affected