The elite panel of ICC referees found Steven Smith’s side were three overs short of their target and the skipper was fined 60% of his match fee and his team-mates docked 30% of their fees.
Smith also faces a one-match ban if found guilty of one more minor over rate offence during the next 12 months.
Meanwhile, India???s fast bowler Ishant Sharma has been penalised following a breach of conduct rules during the same contest.
Sharma was seen using inappropriate words following his dismissal of Smith during the first innings of the match.
He admitted the offence and has been fined 15% of his match fee.