The Australian Taxation Office (ATO) has published updated guidance on Penalties and Interest dated 21 August 2024.
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Penalties and interest
Learn how penalties and interest are applied in different situations, including failure to meet tax obligations.
Interest charges
Tax laws impose interest charges from the date a tax liability was due to be paid until it and the accrued interest charges are paid. If a debt is increased by an amended assessment, interest charges also apply from …