Late Business Activity Statements (BAS) Penalties from 28 December 2012
The amount of FTL penalty is calculated at the rate of 1 penalty unit (currently valued at $170) for each period of 28 days, or part thereof, which a document is overdue up to a maximum of 5 penalty units.
Size tests also apply. Taxpayers classified as medium entities will have the penalty amount multiplied by a factor of 2 and entities classified as large by a factor of 5. The size of an entity (for penalty purposes) is related to its assessable income, withholder status or current annual turnover.
Consequently, the longer you take to lodge a document after the due date the higher the amount of penalty that may be applied. The maximum amount of FTL penalty may be applied if the document is not lodged within 113 days of the lodgment due date.
The table below shows the amount of penalty applicable, by entity size, for the period that a document is overdue.
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FTL penalty amount according to entity size
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| Days overdue | Small | Medium | Large |
| 28 days or less | $170 | $340 | $850 |
| 29 to 56 days | $340 | $680 | $1,700 |
| 57 to 84 days | $510 | $1,020 | $2,550 |
| 85 to 112 days | $680 | $1,360 | $3,400 |
| 113 days or more | $850 | $1,700 | $4,250 |
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