Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_2:p16
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 16/16)
Character Range: 1358190–1360536

45D(1) of the Retirement Savings Accounts Act 1997.
 (2) An entity is liable to an administrative penalty if the entity contravenes:
 (a) subsection 34P(6) of the Superannuation Industry (Supervision) Act 1993; or
 (b) subsection 45F(6) of the Retirement Savings Accounts Act 1997.

Liability to penalty—employers
 (3) An entity is liable to an administrative penalty if the entity contravenes:
 (a) subsection 34N(1) of the Superannuation Industry (Supervision) Act 1993; or
 (b) subsection 45E(1) of the Retirement Savings Accounts Act 1997.
 (4) An entity is liable to an administrative penalty if the entity contravenes:
 (a) subsection 34Q(6) of the Superannuation Industry (Supervision) Act 1993; or
 (b) subsection 45G(6) of the Retirement Savings Accounts Act 1997.

Amount of the penalty
 (5) The amount of the penalty is:
 (a) for an administrative penalty under subsection (1) or (3)—4 penalty units; or
 (b) for an administrative penalty under subsection (2) or (4)—10 penalty units.
Note: The Commissioner is required to notify you of an administrative penalty: see section 298‑10.

288‑115  AMIT under or over resulting from intentional disregard of or recklessness as to taxation law
 (1) An entity is liable to an administrative penalty if:
 (a) the entity is a trustee of an *AMIT for an income year (the base year); and
 (b) the AMIT has an *under or *over for the base year; and
 (c) at least one of the items in the table in subsection (3) applies in respect of the under or over.
 (2) To avoid doubt, subsection (1) has a separate operation in respect of each *under or *over mentioned in paragraph (1)(b).
 (3) The amount of the penalty is 47% of the amount worked out using this table:

Amount of penalty
Item               Column 1                                                                                                                                                                   Column 2                                                                     Column 3
                   In this situation …                                                                                                                                                        in the case of an *under or *over covered by subsection (5), the amount is:  in the case of an *under or *over covered by subsection (6), the amount is: