Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Australia Taxes

Australians please...tax laws?


Whats the penalty if you dont put in a tax return for the year, if you know ur gonna get a bill. But put it in the next year instead when you know u can pay it?

The penalty is worked out as a pecentage based on the number of days late.

If you submit it through a tax agent, the deadline for it moves from October to May, so maybe that might make it better for you.

See the ATO website for the percentage figure. Source(s): www.ato.gov.au
I put my last 4 years returns this year and got 1k
The rules on this are complex, see
http://law.ato.gov.au/atolaw/view.htm?do...

The ATO is usually pretty reasonable if you have had a good record before and a reasonable excuse for not lodging. At worst, they may get you to pay interest on the amount involved.
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