Part 4
Interest, relief, penalties and offences, rights of objection, and rights to challenge
Penalties and offences:
Student loan shortfall penalties
158Student loan shortfall penalties may be imposed on certain borrowers
Section 159 applies to a borrower if—
- the borrower is liable to pay a shortfall penalty; and
- the incorrect tax position, action, or omission that resulted in the shortfall penalty (the incorrect tax position)—
- created a shortfall in the income tax paid or payable by the borrower; and
- resulted in the borrower having a repayment obligation shortfall.
- created a shortfall in the income tax paid or payable by the borrower; and