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[
][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”
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
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 MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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
Melnon 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!
[
]Thanks for your help… I will hurry and lodge them. [^]
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