The Crimes Legislation Amendment (Serious Drugs, Identity Crime and Other Measures) Bill 2012 has been passed by both Houses of Parliament and is awaiting Royal Assent.

“Penalty units” in the Commonwealth Crimes Act will increase from $110 to $170.

UPDATE May 2015: From 31 July 2015, the Government will increase Commonwealth penalty units from $170 to $180.

The change will increase penalties under the Corporations Act, the Competition and Consumer Act, the Australian Consumer Law and the National Credit Act as well as many other Commonwealth laws.

At the latest the change will take effect on the day after 1 month after the Act receives Royal Assent.

UPDATE: Royal Assent was given on 28 November 2012