27Amount of penalty tax

#### 27 Amount of penalty tax 27 Amount of penalty tax > > (1) The amount of penalty payable for a tax default is, subject to this Division— > > > > > (a) 25% of the amount of tax unpaid, or > > > > > (b) if the taxpayer is a significant global entity within the meaning of the [Income Tax Assessment Act 1997](http://www.legislation.gov.au/) of the Commonwealth—50% of the amount of tax unpaid. > > > (2) The Chief Commissioner may increase the amount of penalty tax payable in respect of a tax default to 75% of the amount of tax unpaid if the Chief Commissioner is satisfied that the tax default was caused wholly or partly by the intentional disregard by the taxpayer (or a person acting on behalf of the taxpayer) of a taxation law. > > > (3) The Chief Commissioner may determine that no penalty tax is payable in respect of a tax default if the Chief Commissioner is satisfied that— > > > > > (a) the taxpayer (or a person acting on behalf of the taxpayer) took reasonable care to comply with the taxation law, or > > > > > (b) the tax default occurred solely because of circumstances beyond the taxpayer’s control (or if a person acted on behalf of the taxpayer, because of circumstances beyond either the person’s or the taxpayer’s control) but not amounting to financial incapacity. > > **s 27:** Am 2022 No 16, Sch 8\[2\].