All Topics / Help Needed! / Haven’t lodged a tax return for 3 years

Viewing 7 posts - 1 through 7 (of 7 total)
  • Profile photo of MerlinMerlin
    Member
    @merlin
    Join Date: 2002
    Post Count: 11

    Does anyone know of what happens when you haven’t lodged a tax return for a number of years.. Are there fines, interest etc ??

    I believe that they will owe my money for the first years, but I will owe them money for the other two.

    Thanks[:I]

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    [8]your looking at about $1000 fine plus $1.20 for every week late,no hang on, that’s for library books, actually-

    This has happened to a friend just recently, electronic lodgement makes things quicker now, so , the best bet, speak to your accountant and organise lodgement..should be able to do so with no penanlty..

    REDWING[:p]

    “Money is a currency, like electricity and it requires momentum to make it Effective”

    Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714

    If you are owed money, then there is no issue. Happened to me two years ago.

    They only get peaved when you owe money.

    You can simply get an old tax return (cross out the year on top of the page with the correct year) and submit.

    James

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    Not much happens. I know a few people like this. maybe when you eventually lodge you could write a letter to the ATO with a nice reason.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429

    That’s good to know. thanks guys. I’m not years late, but certainly won’t meet the deadline of end of this month for last years return!

    Cheers
    Mel

    Profile photo of elveselves
    Member
    @elves
    Join Date: 2003
    Post Count: 507

    non compliance is an issue, generally if you are owed money yes they leave you a bit, but owe them…

    it is the luck of the draw if you get caught and they pounce on you, but do the right thing and lodge, you never know your luck!

    [:D]

    Profile photo of MerlinMerlin
    Member
    @merlin
    Join Date: 2002
    Post Count: 11

    Thanks for your help… I will hurry and lodge them. [^]

Viewing 7 posts - 1 through 7 (of 7 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.