Outstanding tax returns?

September 2019 | Accounting & Tax

Introducing AAG’s Extended Lodgement Program!

If you’re yet to complete your tax return for last financial year or even the year (or years!) prior – don’t panic. While the ATO states that individuals must lodge all outstanding tax returns by 31 October 2019, AAG’s Extended Lodgement Program provides clients with a little breathing space to gather all of the information for their income and tax-deductible expenses and to lodge their return.

How our Extended Lodgement Program can help!

Scenario 1

“I have my tax returns up to date except for FY18/19. When will this need to be lodged by?”

If you register for our Extended Lodgement Program before 31st October 2019 you will have up and until 15 May 2020 to lodge your tax return. That’s over seven months past the ATO’s advertised deadline.

Scenario 2

“In addition to the FY just gone, my tax returns for FY17/18 and FY16/17 are also outstanding. Help!”

As a tax agent, AAG has the experience and capability to assist individuals who have a number of years of tax returns outstanding. Generally speaking, if you have one or more prior years’ tax returns yet to be lodged, all are required to be with the ATO by 31 October 2019. However, if we are able to assist you with preparing and lodging the previous years’ outstanding returns before this date, AAG may be able to negotiate with the ATO an extension on your return for FY18/19.

While these scenarios apply to some of AAG’s clients, we completely understand that personal circumstances apply and not every situation is the same. At all times AAG works with our clients to provide the best-possible solution based on individual requirements.

Important information: The ATO is separating the lodgement requirement from the payment of tax requirement. It is therefore in a client’s best interest to lodge any outstanding returns and to stay current, thus avoiding late lodgement penalties (which we have seen as high as $2,750 for one financial year). We can also assist with negotiating an ATO payment plan if required.

To take advantage of this Program, clients must register for our lodgement list by 31 October 2019. To register, contact our team on (08) 9227 6300 or email . We are also available to answer any general questions you may have about the tax lodgement process.

Important information and disclaimer

This publication has been prepared by AustAsia Group, including AustAsia Accounting Services Pty Ltd (Registered Tax Agent No 7587 3005).

Any advice in this publication is general only and has not been tailored to your circumstances. Accordingly, reliance should not be placed on the information contained in this document as the basis for making any financial investment, insurance, or other decision. Please seek personal advice before acting on this information.

Information in this publication is accurate as at the date of writing, 10 September 2019. Some of the information may have been provided to us by third parties. While it is believed the information is accurate and reliable, the accuracy of that information is not guaranteed in any way.

Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee nor any member of AustAsia Group, nor their employees or directors give any warranty of accuracy, nor accept any responsibility, for any errors or omissions in this document.

Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.

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