Question: ( b ) Assume that it s now October 2 0 2 4 and if the share disposals were recorded in Elise s income tax

(b) Assume that its now October 2024 and if the share disposals were recorded in Elises income tax return it
would result in a tax shortfall. Advise Elise of the following:
i. The distinct component of the uniform administrative penalty regime may apply to her.
ii. The base rate penalty percentage the ATO would likely apply in the situation and why.
iii. The two actions she could take to minimise any potential penalties.

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