VCP11747 - Mitigation Framework: Why and when we should mitigate a penalty: Degree of co-operation in disclosing and quantifying arrears (Belated Notification)
Degree of co-operation in disclosing and quantifying arrears (belated notification) | maximum of 50% |
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A voluntary disclosure of a belated notification of a liability to be registered accompanied by full quantification of the arrears. | up to 50% |
A voluntary disclosure of a belated notification of a liability to be registered not accompanied by quantification of the arrears. | up to 25% |
Full quantification of arrears within X number of days of identification of the belated notification of a liability to be registered. | up to 25% |