Failure to lodge penalties (FTL)
FTL penalty is an administrative penalty which may be applied if you are required to lodge a return, notice, statement or other approved form with the ATO by a particular day and you do not do so.
|
Number of days overdue (or part thereof) |
Penalty amount |
|
Small taxpayer |
Medium taxpayer |
Large taxpayer |
|
0 - 28 |
$110 |
$220 |
$550 |
|
29-56 |
$220 |
$440 |
$1,100 |
|
57-84 |
$330 |
$660 |
$1,650 |
|
85-112 |
$440 |
$880 |
$2,200 |
|
113+ |
$550 |
$1,100 |
$2,750 |
|
|
|
|
Large taxpayer > |
assessable income (or a current annual turnover) of $20 million or more, or 'large' for PAYG Withholding purposes,
|
|
Medium taxpayer > |
assessable income (or a current annual turnover) of more than $1 million, but less than $20 million, or 'medium' for PAYG Withholding purposes,
|
|
Small taxpayer > |
the rest. |
|
|
|
|
|
Generally, penalty will not be applied to a late lodged income tax return, annual GST tax return or activity statement where the lodgement results in:
> a refund, or
> a nil result, that is, neither a debt nor a refund.
However, if FTL penalty has already been applied (because the document was not lodged), the fact that the subsequent lodgement of the document may result in a refund or nil result will not be sufficient reason for the penalty to be remitted.
Approved forms include:
> quarterly activity statements (but not monthly)
> income tax returns
> fringe benefits tax returns
> pay as you go (PAYG) withholding annual reports
> annual goods and services tax (GST) returns, and
> annual GST information reports.
It does not apply to documents required to be lodged under Superannuation Guarantee legislation.