You are liable to incur penalties if you fail to meet the tax obligations in the various tax laws.
To calculate penalties we use a statutory formula or multiples of a penalty unit.
If you're liable for a penalty, we'll notify you in writing and include:
- the reason for the penalty
- the amount of the penalty
- the due date for payment (at least 14 days after we give notice).
Notice of the FTL penalty may be made before or after the entity has lodged the document.
|
Tax obligation |
Penalty for failing to meet obligation |
|---|---|
|
Keeping or retaining records as required |
20 penalty units |
|
Retaining or producing declarations as required |
20 penalty units |
|
Providing access and reasonable facilities to an authorised tax officer |
20 penalty units |
|
Applying for or cancelling goods and services tax (GST) registration when required |
20 penalty units |
|
Issuing a tax invoice or adjustment note when required |
20 penalty units |
|
Both principal and agent must not issue tax invoices or adjustment notes for the same taxable supply or adjustment event |
20 penalty units |
|
Registering as a PAYG withholder when required (withholders must be registered) |
5 penalty units |
|
Lodging an activity statement electronically when required (non-electronic notification) |
5 penalty units |
|
Paying an amount electronically when required (non-electronic payment) |
5 penalty units |
For more information, see:
- Remission of penalties
Check if you can request a remission of a penalty according to your personal circumstances. - Compliance and penalties
Check what penalties we impose for GST at settlement on suppliers and purchases.