We can lodge all your previous years tax returns be it 2 years or 10 years. We have quick turn around times for urgent matters. We can also attend to your notices or demand letters from ATO for non- lodgement or late lodgement. We could speak to ATO on your behalf to take extensions and get all your tax matters up to date within ATO guidelines saving you thousands of dollars in penalties.
Making matters complicated is the last thing you need when you are falling behind at tax returns. You have to catch up to where you need to be, otherwise things are just going to pile up more and more. Now that you have some professional guidance, you can figure out the processes in detailed manner.
It is going to be hassle free, error free, transparent and trustworthy. If you fall under the category to not have to lodge a return, we will file a non-lodgment advice to ATO. Furthermore, any deductions that can be asked, any sort of advice, Tax guidance will be provided to you. We will also advice you how to keep records of financial information and give advices regarding being on time for the next lodging. How to lodge late or previous year tax returns?
How much do I have to pay as penalty for not lodging my tax returns? Is there any chances of penalties being waived or overdue tax returns? For those of you who have put off doing your tax or maybe just forgotten about it until now, you've still got a bit of time. Here's what you need to know about the deadline and what to look out for on your claim. You have until October 31 to lodge your tax return for the previous income year.
If you don't think you'll have enough time, you can lodge your application after that date if you're using a registered tax agent for example, an accountant. But you'll need to contact your tax agent before the deadline closes to arrange it. When asked why individual taxpayers doing their own return have to lodge by October 31, the ATO said the due date for lodgement of income tax returns is set out in the law.
The financial year ends on June 30, so this gives you about four months from July 1 to October 31 to complete your tax return. If you prepare and lodge your own return and need additional time, you'll need to contact the ATO before the due date.
Registered tax agents have a lodgement program that enables them to progressively lodge over a month period so that there isn't a huge backlog when the deadline rolls around. But there is some benefit to waiting to do your tax return since it gives the ATO system time to filter through your personalised tax information.
By August or September , most of your details will be pre-filled online, which makes it easier for you to fill out the rest of your claim. You can still lodge your tax return after the October 31 deadline through myTax or by contacting your tax agent, ATO assistant commissioner Kath Anderson said. But whether you're penalised or not, depends if you're due to receive a refund or if you owe the tax office money. If you expect to get a refund, you won't be penalised for late lodgement.
It's only you who is missing out. But if you owe the tax office money, late lodgement means you'll get a fine. If that's you, the ATO says you should still lodge an application even if the deadline has passed.
Those who have also previously failed to lodge a tax return or not paid their debts are also required to lodge their future tax returns earlier than other taxpayers. That's provided you're an Australian resident over the age of 18 and not eligible for any tax offsets.
But you can check this tax calculator to be sure. In fact, Ms Anderson said they've picked out a few common mistakes, including:. Property News: Sunny playground where the growth is only just beginning - domain. Your web browser is no longer supported. To improve your experience update it here. News National. Tax deadline for DIY returns looms.
Tweet Facebook Mail. Typically the deadline for submitting your own tax return is October 31 each year. Because October 31 falls on a Sunday this year, the effective last day to lodge a return is the following Monday, on November 1,
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