"The fine and suspension are withheld on the condition that over the next six-month period the player does not incur any fines for verbal or physical abuse at any ATP sanctioned tournament; or does not accumulate fines totalling more than $5,000 for any other offences at ATP sanctioned tournaments," the governing body of men's tennis said in a statement.
Kyrgios had already been fined the on site maximum of $10,000 for the offence and a further $2,500 for comments directed at a ball person.
"This incident was egregious and reflected poorly on our sport," Gayle David Bradshaw, Executive Vice President, Rules & Competition said in a statement
"Nick has expressed regret, and the best result would be that he learns a lesson from this incident and that he understands he is responsible to the Tour and to fellow players for both his actions and his words.
"It is with these factors in mind I feel he should have the opportunity to 'earn' his way out of additional sanctions."
Kyrgios subsequently published an apology for the comments but last week Wawrinka said he had received no apology from the combustable Australian.
Should Kyrgios adhere to the conditions until the Feb. 24 2016 deadline, the penalties will be dismissed.
The 37th-ranked Kyrgios is well known for on and off-court outbursts and was booed by the crowd at this year's Wimbledon for appearing to give up in a match against Richard Gasquet.
(Reporting By Tom Hayward, editing by Pritha Sarkar)
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