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?
2006-09-01 02:46:29 · 3 answers · asked by livachic2005 4 in Business & Finance ➔ Taxes ➔ Australia
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.
2006-09-02 22:34:44 · answer #1 · answered by chicgirl639 3 · 0⤊ 0⤋
The rules on this are complex, see
http://law.ato.gov.au/atolaw/view.htm?docid=PSR/PS20028/NAT/ATO/00001
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.
2006-09-02 10:32:19 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I put my last 4 years returns this year and got 1k
2006-09-01 02:56:58 · answer #3 · answered by Mya 5 · 0⤊ 0⤋