If ASIC Annual Review fee is not paid on time and a late payment fee is imposed, when the total is paid how is it treated for tax purposes? Is it all non-deductible, or can it be split and the original Annual Review fee be claimed as a deduction and only the Late Payment Fee be treated as non-deductible?
Hi @SB2,
Penalties or fines imposed by statutory bodies as a result of breaches of an Australian law are not deductible.
See the asic.gov.au website for more information on late payment of ASIC levies.
However, ASIC levies are tax deductible.
Hi @SB2,
Penalties or fines imposed by statutory bodies as a result of breaches of an Australian law are not deductible.
See the asic.gov.au website for more information on late payment of ASIC levies.
However, ASIC levies are tax deductible.
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