Document ID: chunk:federal_register_of_legislation:C2013A00101:clause:2_5
Version: federal_register_of_legislation:C2013A00101
Segment Type: clause
Provision Reference: sch 2 cl 5
Character Range: 35603–37097

5  Section 284‑160 in Schedule 1
Repeal the section, substitute:

284‑160  Base penalty amount: schemes
 (1) The base penalty amount for a *scheme to which subsection 284‑145(1) applies is, subject to section 284‑224:
 (a) 50% of your *scheme shortfall amount; or
 (b) 25% of your scheme shortfall amount if it is *reasonably arguable that the adjustment provision does not apply.
 (2) The base penalty amount for a *scheme to which subsection 284‑145(2A) applies is, subject to section 284‑224:
 (a) 25% of your *scheme shortfall amount; or
 (b) 10% of your scheme shortfall amount if it is *reasonably arguable that the adjustment provision does not apply.
 (3) The base penalty amount for a *scheme to which subsection 284‑145(2B) applies is worked out using this table and section 284‑224 if relevant:

Base penalty amount
Item                 Column 1                                                                                                                                                                                                                                                                                              Column 2
                     In this situation:                                                                                                                                                                                                                                                                                    The base penalty amount is: