If you’ve fallen behind with your tax lodgements – the window to lodge without late fines is closing.
ATO says:
The amnesty applies to overdue income tax returns, business activity statements and fringe benefits tax returns that were due between 1 December 2019 and 28 February 2022.
If eligible overdue forms are lodged between 1 June 2023 and 31 December 2023, any failure to lodge penalty applying to the late lodgment will be remitted. No action is required to request a remission.
Directors who bring their company lodgments up to date can also have penalties remitted. If they’re reliant on company lodgments to finalise their own tax affairs, any failure to lodge penalties will be remitted. This applies to eligible lodgments made between 1 June and 31 December 2023.
Remember, a registered tax professional or BAS agent can help you get back on track with your tax.
There really is little time left before everyone packs up for the year – act now!
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