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| *Ostroff, Fair and Company>>>Australia Taxes |
How much will i be fined if i havnt lodged my tax in 6 years? |
How much will i be fined if i havnt lodged my tax in 6 years? You can be fined up to $500 for each outstanding return. Also if you have any amount owing on any lodged return the ATO may also chose to charge a General Interest Charge on this money. You will need to ring the ATO & discuss your circumstances. Normally the charges will be lowered if returns are lodged within a certain time frame. It is a good idea to get them in as soon as possible though as if you are issued with a final notice your case could go to litigation. I think it would depend on if in each of those years you OWED the IRS money or you were supposed to get some back. I THINK that if they owe YOU they really don't care if you ever file your taxes, LOL. But if you owe them it could be quite a bit and you could be in some serious trouble. That is just a guess. :) I have no idea what the tax laws are like in Australia or NewZealand, but my guess is that if they owe you, they will fine you enough for not paying that they won't have to pay you . . . |
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