Looking at the property legislation for your state or territory, advise the maximum penalty for non-compliance

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ASSESSMENT TASK 2 – Short Answer Questions

Question

12. Looking at the property legislation for your state or territory, advise the maximum penalty for non-compliance in the following areas. Assume penalties are for individuals.

a. Not completing required trust account reconciliations each month

    1. Penalty points: _20__
    2. Calculated penalty is $_3698.40__

b. Receipts for trust money not including all required information

    1. Penalty units: _10__
    2. Calculated penalty is $__1894.20_

Solution

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