'Penalty unit' is defined in section 4AA of the Crimes Act 1914.
Penalty units are used to describe the amount payable for fines under commonwealth laws, including under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
Fines are calculated by multiplying the value of one penalty unit by the number of penalty units prescribed for the offence.
One penalty unit is $180.
Penalty units are reviewed every three years. The next review is due in late 2018.