Shortfall penalties – reductions and other matters - fact sheet

This fact sheet accompanies interpretation statement IS 26/09: Shortfall penalties – reductions and other matters which discusses when a shortfall penalty is reduced (or increased), what happens when a taxpayer could be liable for more than one penalty and the assessment, payment and disputing of shortfall penalties.

The fact sheet provides a summary of the available penalty reductions, a table showing the percentage reductions for each reduction and penalty type, and a table showing the percentage reduction that applies when a combination of reduction types applies to a shortfall penalty imposed.