Bugger - I'm not going to make the tax deadline. Will I be fined - or is that only if I owe the ATO money?

Question

I won't owe any tax - I will be due a rebate. Will I still be fined?

Thanks Tanya - if I am still waiting on a Group Certificate does that make a difference?

Answer 1

You will be fined. Your tax return MUST be lodged by October 31, 2006. Im not sure of the amount but its not over $200. In the future to avoid the fee try the ATO'S ETax system (tax return over the internet).

All you have to do is have your tax file number, an assesment number which you can get from calling the ATO hotline and away you go. Once lodged electronically it only takes a maximum of 3 wks to come back to you.

In the future always get it done early. It beats the fine and it also avoids the queues of people finishing theirs off as well at the end of the tax return period.

EDIT: If you dont have your group certificate then contact the ATO immediately and tell them the situation. You can ask for a declaration form that you can fill out. The form asks you to estimate the approximate amount of your income in the last financial year. (so you dont have to have the exact figures - as long as you know your hourly rate and what u get paid per week gross).

Because of this you cant use the ETax system. To use ETax u must have a group certificate You need to lodge it manually in the individual tax book that u get at the newsagent. Put the declaration form with that booklet and send it off.

If your unsure about anything call the ATO and ask. They are sure to help you out.

Answer 2

apply for an extension
yes there will be penalties and interest added to taxes you owe

Answer 3

yes you will be fined regardless of whether you owe them money or not....tax time really sucks and if they cant get you one way they will get you another way!!! bugger!!!!!

Answer 4

I'm there with ya!! From what I understand it is at their discretion, but yes you CAN be fined, it just depends on if they feel like it....