Understanding the increase to penalty unit rate

Effective from 7 November 2024, the Penalty Unit rate set by the Australian Government will increase from $313 to $330. This change affects non-compliant employers and applies to new instances of non-compliance from Thursday 7 November 2024.

Penalty units are defined by legislation under subsection 4AA(1A) of the Crimes Act 1914 (Cth) and are subject to change. Visit the ASIC website for more information.

Coal LSL has the power to seek civil penalties from employers where they have not complied with their legal obligations. Non-compliance may include things like failing to submit a levy return or annual audit report by the due date. For example, late submission of an annual audit report may incur a penalty of 40 penalty units for an individual or 200 penalty units for a body corporate for each year that this legislative requirement is not met.

If you have any questions or concerns about your ability to meet your legal obligations, please contact us.