This follows a massive brawl involving players from both sides when the nations faced off in a qualifying game on July 2 for the 2019 World Cup to be held in China.
13 players in all have been affected by the punishments which take effect immediately and are sure to affect the respective nations qualifying campaigns.
The Philippines have been fined 191,703 Pound Sterling while Australia faces a 76,681 Pound Sterling fine for its role in the brawl.
10 Filipinos have been banned for a total sum of 35 games and Australia has three players due to face an accumulated ban of nine games including Milwaukee Bucks Center Thon Maker.
Maker who is entering his third year since the Bucks made him a lottery pick a couple of seasons could face further punishment from the NBA for his activity.
Former Washington Wizards Center Andray Blatche is included in the ban on the Philippines end.
By Yaw Adjei-Mintah
@YawMintYM on Twitter