At Hills Tax Accountant Moonah, we want to pass on this information from the ATO to all Tasmanians who want to avoid the possibility of penalties.
The Australian Taxation Office (ATO) is urging Australians who have not yet lodged their income tax returns to lodge or get on the books with a registered tax practitioner before 31 October, to avoid potential penalties.
ATO Assistant Commissioner Rob Thomson said over 9.4 million Australians have already lodged, with a further 1.5 million self-preparer taxpayers expected to need to lodge this year.
‘The ATO is receiving a spike of lodgements, with an average of almost 60 thousand individuals lodging each day in October as the deadline approaches. In fact, we’ve had over 1 million lodgments so far this month alone.’
‘Firstly, a reminder to those who’ve done the right thing and deliberately held off finalising their tax return until pre-filled information is available now’s the time to log back into the App or myTax, finalise and press lodge.’
‘For those who haven’t yet started, it’s not scary or complicated. People with simple affairs will find that you should be able to lodge your tax return in the time it takes to cook a frozen pizza,’ Mr Thomson said.
‘We’re all guilty of sometimes leaving things to the last minute, but taking half an hour this weekend to complete your tax return will save you time and money in the long run, as penalties can apply if you lodge late.’
If you need a helping hand or have more complex tax affairs, you may like to engage with a registered tax practitioner. To check whether an agent is registered, visit the Tax Practitioners’ Board Register.
‘If you’re going to engage a registered tax professional and you’re not already on their books, you should do this before 31 October,’ Mr Thomson said.
Additionally, the Tax Help program is a free and confidential service open to people who earn $60,000 or less each year and have simple tax affairs. The program is available until the end of October.