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  • Failure to lodge on time penalty and general interest charge



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    The law imposes a penalty on a corporate tax entity that does not lodge this tax return by the due date. It also imposes a general interest charge on an entity that fails to pay franking deficit tax and/or over-franking tax by the due date.

    The Commissioner has the discretion to remit any penalty in whole or in part. If the entity considers the penalty should be remitted, a statement should be attached to this tax return explaining why remission should be granted.

    Last modified: 02 Oct 2019QC 17477