Want an unexpected fine from the ATO?

We didn’t think so.

There are now only 3 weeks left to lodge a 2021 tax return before the ATO can start issuing some nasty penalties.

The ATO wants you to do the right thing.  So, by not lodging your tax return on time, you may receive automated ‘failure to lodge on time’ penalties of up to $1,100 for the 2020 tax year.

According to the ATO, such fines won’t be remitted (waived) even if the return results in a refund or nil result and unlike our tax preparation fees, these dues aren’t tax-deductible in the slightest.

Check out these escalating fines! (More than doubled in a few years)

 Tax Year / Fine

 2020 / $1,110

 2019-20 / $1,050

 2016-17 / $900

 2013-15 / $850

 2012 / $550

Remember, for most of us working folk, it is a legal requirement to lodge a tax return every year. If you are not sure always ask us or risk a fine. Time for action. Yes maybe.

Call 1300 TAX SHOP book in directly here to get your tax up to speed and avoid a fine.