Level 1, 20 Innovation Parkway, Birtinya, QLD 4575  

PO Box 1012, Buddina QLD 4575 

Phone: (07) 5437 6600 

Fax: (07) 5437 6622 

Email: info@paabs.com.au 

Opening Hours : Monday to Friday 8.30am - 5.00pm 

     OUR SERVICES

    Click here to view a full list of accounting and
    financial services we offer.
     CLIENT RESOURCES

    Click here to view a list of free to use,
    online resources.
     AFFILIATE SERVICES

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Return to List of Tax Facts

Tax Facts - Tax Payer Penalties

Taxpayers who do not meet their tax obligations may face penalty or interest charges. To avoid these charges, ensure you pay the full amount of tax you owe by the due date.

The main charges for failing to meet tax obligations are the:

Additional penalties include failing to:

  • Keep or retain required records
  • Retain or produce required declarations
  • Provide access and reasonable facilities to an authorised tax officer
  • Apply for or cancel GST registration when required
  • Issue a required tax invoice or adjustment note
  • Register as a PAYG withholder when required
  • Lodge a required activity statement electronically
  • Pay a required amount electronically

If a taxpayer is audited and an amended assessment is raised, further penalties of up to 75% of the additional tax levied may be applied, depending on the severity of the offence. Examples include making a false or misleading statement, not taking reasonable care, or taking a position that is not reasonably arguable in a tax return or other document.

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