Compliance – administrative and failure to lodge penalties

The schedule is part of the company income tax return and is required to be lodged by the due date for lodgment of your entity's tax return.

Administrative penalties will apply if you either:

• make a statement that is false or misleading including omissions
• fail to lodge on time.

See also:

• Failure to lodge on time penalty
• PS LA 2011/19 Administration of the penalty for failure to lodge
• Significant global entities – penalties
• Statements and positions that are not reasonably arguable
• Items 3A, 3B or 3C of subsection 284-90(1) of the Taxation Administration Act 1953
• PS LA 2012/4 Administration of the false or misleading statements penalty – where there is no shortfall amount
• PS LA 2012/5 Administration of the false or misleading statement penalty – where there is a shortfall amount