More than 1.5 million Australians could receive a fine in the mail if they fail to lodge their tax returns when the deadline rolls around. The ATO is urging Australians who are yet to lodge their returns, or book in with a registered tax practitioner, before the October 31 deadline.
Taxpayers who fail to lodge on time face a $313 fine which will renew monthly until the tax return is lodged. Know the news with the 7NEWS app: Download today ATO Assistant Commissioner Rob Thomson said more than 9.4 million Australians had 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 lodgments, 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,” he said.
“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.
“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 c.