Australian Taxation Office Reminds Taxpayers that Penalty Increases for Significant Global Entities Apply to All Approved Forms

The Australian Taxation Office (ATO) has issued a reminder that the failure to lodge penalty increases for significant global entities (SGEs) apply in relation to all approved forms. The penalty, which varies depending on the length of delay, was increased by a factor of 100 for SGEs effective 1 July 2017.

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Reminder: penalty increases for significant global entities apply to all approved forms

While applying failure to lodge penalties for significant global entities (SGEs), we have re…