🇦🇺Australia

GST/BAS Lodgement Penalties

0

Definition

Event planning involves sponsorship income which may be input-taxed (e.g., certain think tank activities) or taxable, requiring precise GST apportionment. Failure to lodge BAS on time incurs ATO penalties.

Key Findings

  • Financial Impact: AUD 222 general interest charge per 28 days late + AUD 1,100+ failure to lodge penalty per BAS.
  • Frequency: Quarterly or monthly
  • Root Cause: Manual tracking of sponsorship revenue splits and lodgement deadlines

Why This Matters

The Pitch: Think tanks in Australia 🇦🇺 waste AUD 222+ per failure on BAS penalties. Automation of sponsorship invoicing and GST classification eliminates this risk.

Affected Stakeholders

Event Manager, Finance Officer, Sponsorship Coordinator

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

Sponsorship Contract Fraud Risk

2-5% sponsorship revenue leakage (industry standard); e.g., AUD 2,000-5,000 per AUD 100k event.

Event Vendor Payment Delays

AUD 50-200 late payment penalties per vendor + 1.5% p.m. interest.

Single Touch Payroll Phase 2 Fines

AUD 330 per failure to report correctly + escalating penalties up to AUD 4,950 for repeated failures.

Superannuation Guarantee Shortfalls

SG Charge = super shortfall x 200% + interest; e.g., AUD 1,150 missed super incurs AUD 2,300+ charge.

ATO Audit Failures & Penalties

AUD 10,000+ per modified audit (ATO penalties for BAS/GST lodgement failures during audit prep); 50-100 hours/year manual rework.

Audit Preparation Cost Overruns

AUD 20,000-50,000/year overrun (auditor fees for extended work); 40-80 hours staff time per audit.

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