Both state and Commonwealth penalty units (pu) are referred to in The Law Handbook.
Under state law, since 1 July 2004, the value of a penalty unit for a financial year has been fixed by the Treasurer under sectionÂ 5(3) of the Monetary Units Act 2004 (Vic). For the financial year (1 July 2014 to 30 June 2015) the value of one (1) penalty unit is $147.61, as published in the Victoria Government Gazette (Special Gazette S123, 15 April 2014). However, note that the Treasurer can fix a new penalty unit amount for each financial year. To see the most current Victorian penalty unit amount at any given time, go to the Office of the Chief of Parliamentary Counsel’s website at www.ocpc.vic.gov.au and follow the links to “Penalty and fee units”.
Under Commonwealth law (i.e. the Criminal Code Act 1995 (Cth)), one (1) penalty unit equals $170, as per sectionÂ 4AA of the Crimes Act 1914 (Cth).