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Penalties on income tax returns, GST returns and EMS

Penalties on income tax returns

The amount of a late filing penalty depends on your net income (see the table below). Net income is gross income less allowable deductions, before any net loss offsets.

If you haven't filed your return yet, the penalty is based on the amount of net income shown in your previous year's return.

When you file the late return the penalty will be adjusted in line with the actual net income figure shown on that return.

Work out the penalty on your net income

If your net income is... then the penalty is ...
less than $100,000
$100,000 to $1 million
more than $1 million

Penalties on employer monthly schedules (EMS)

The late filing penalty for an EMS is $250.

Penalties on GST returns

The late filing penalty depends on your accounting basis at the time the return is due.

If your accounting basis is ... then the penalty is ...