ATO Penalties for Revenue Misrecognition
Definition
Mismatch between project billing and AASB 15 recognition affects GST calculations in BAS; ATO penalties apply for inaccuracies.
Key Findings
- Financial Impact: AUD 222 base penalty + 2% p.a. GIC per late BAS; up to AUD 5,500 for significant shortfalls
- Frequency: Quarterly/monthly BAS cycles
- Root Cause: Manual reconciliation between project systems and accounting
Why This Matters
The Pitch: Operations Consulting in Australia 🇦🇺 risks AUD 222-1,110 BAS late fees plus interest. Compliance automation ensures timely AASB 15-aligned filings.
Affected Stakeholders
Bookkeeper, Tax Agent, Finance Director
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
Delayed Revenue Recognition under AASB 15
AASB 15 Misallocation Penalties
Unbilled Milestones in Projects
Change Management Overtime Costs
Training Rework Penalties
Delayed Consulting Invoicing
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