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Grizabella
17-08-2006, 19:46
I haven't done my taxes since 2001! :eek: Mostly because I am lazy, I am also bloody useless with the tax pack thingies, and I have moved around the state a lot so my group certs never reached me. Anyway, I have finally gotten off my butt and had my group certs resent to my current address. I am going to an accountant so he can lodge the forms for me.

Quick question though...is there a penalty for not lodging your tax returns? If so how much? Plus, I added my group certs up and I have been taxed around $11K, all before I had my son. How much can I expect to get back?

Thanks in advance :thumbsup:
SilverStarfish
17-08-2006, 19:48
Uh oh... I'd go see an accountant about it. I have a feeling their are penalties for not lodging a tax return. The ATO website (http://www.ato.gov.au/) probably has more details...
SilverStarfish
17-08-2006, 19:52
:eek: :eek:

Failure to lodge on time (FTL) penalty frequently asked questions - www.ato.gov.au (http://www.ato.gov.au/print.asp?doc=/content/23605.htm)


Is there any penalty for no lodgment or late lodgment penalty?
You have until the 31st October each year to complete and lodge your Income Tax Return. Any return that is lodged after the 31st October may incur a fine of $110 per month thereafter, up to a maximum penalty of $550 as well as any interest or outstanding income tax.
To ensure you will not be penalised for lodging your return late, please prepare your return before the due date for lodgement.

https://secure.freespirit.com.au/taxapp/faq.html
Grizabella
17-08-2006, 19:54
Cool - thanks for that! I think it will be about a $550 penalty. Bugger!
SilverStarfish
17-08-2006, 19:59
Maybe not... from what I read quickly on the ATO site, you may only be changed the penalty if you owe them money - how typical of the government!!!

If they owe you, or its even, then they may not fine you.

Good luck! :thumbsup:
niknax
17-08-2006, 20:09
Maybe not... from what I read quickly on the ATO site, you may only be changed the penalty if you owe them money - how typical of the government!!!

If they owe you, or its even, then they may not fine you.

Good luck! :thumbsup:

that is my understanding as well.....good luck and I hope you get a nice refund!
Vespera
17-08-2006, 21:24
I didnt do my tax for 4 years (naughty naughty) but I just couldnt be bothered!

Anyway I just got a letter from them telling me not to do it again as they have discretion to charge penalties But they didnt fine me anything.

I just did them with Tax Pack - they just told me to change the date on the top to the year I was doing and they worked it out.
Grizabella
17-08-2006, 21:27
I'm actually going to claim for all 5 yrs I haven't done it. LOL Let's hope they let me off!
Little Gorilla
17-08-2006, 21:36
i just did 4 years at once - no penalty - I used an accountant though (which, is something you must do to avoid penalties)

if you use an accountant, the only penalty you will get is if one of the years you owed money to the tax department, you will get charged penalty interest on the unpaid money owned to the tax department