BEWARE - Failure to Lodge Penalty (FTL)

Dated: March 2004

The ATO have been applying a FTL penalty on any return, statement, notice or other document not lodged with the ATO on the required date. The amount of the FTL penalty applied is calculated at a base rate of $110 for each 28 day period or part thereof that a document is overdue, up to a maximum of 5 periods.