Penalties & interest charges essentials

Provides information for tax professionals about penalties and interest charges and describes how we will apply the safe-harbour exemptions to certain administrative penalties.

Essentials

Penalties and interest charges

Safe harbour

Failure to lodge on time fact sheet for tax practitioners

Describes how failure to lodge on time penalty will be applied.

General interest charge

Explains what the general interest chage (GIC) is, how it is applied, how it is calculated and when and how you can apply for a remission of the GIC.

General interest charge - calculation example

This document contains an example of the GIC calculation process.

General interest charge (GIC) rates

Updated to include general interest charge (GIC) rates announced for the first quarter of the 2013-14 income year.

Lodgment and payment obligations, general interest charge and penalties

What we consider when working out the most appropriate administrative approach to take for taxpayers in situations when government policy measures have been announced but not yet enacted.

Penalties and interest

A simple guide to penalties and interest that can apply, why they are applied and when we will reduce or remit penalties and interest.

Shortfall interest charge - fact sheet

This fact sheet explains what the shortfall interest charge (SIC) is, how it is applied and how it is calculated. It also explains when and how you can apply to have the SIC reduced.

Shortfall interest charge (SIC) rates

Updated to include shartfall interest charge (SIC) rates announced for the first quarter of the 2013-14 income year.

False or misleading statement penalty - no liability (safe harbour)

This fact sheet explains the safe harbour provisions for the administration of the false or misleading statement penalty as a result of the Tax Agent Services Act 2009.

Safe harbour from 'failure to lodge on time' penalties

Advice to registered tax practitioners about safe harbour from failure to lodge (FTL) for their clients.