In line with the indexation formula in the Crimes Act 1914 (Cth) effective from 1 July 2023, the penalty unit for breaching disclosure obligations of the Building Energy Efficiency Disclosure Act 2010 has increased from $275 to $313 per penalty unit.
Penalty units determine the maximum fines which can be imposed for offences in the Commonwealth legislation and territory ordinance.
The maximum civil penalty rates can result in up to $313,000 for the first day and $31,300 for each subsequent day which may be imposed by a Court for each breach of a disclosure obligation. Alternatively, the Secretary of the Department of Climate Change, Energy, the Environment and Water may issue an infringement notice of up to $31,300 for the first day and $3,130 for each subsequent day of non-compliance.
The Crimes (Amount of Penalty Unit) Instrument 2023 can be viewed here.