Tax return fine??

[AttaBoy]

Hi, my cousin told me that you get a fine for not lodging your tax return??

Is this true??
He has been very busy in the past few months flying overseas and business stuff and somehow forgot to lodge his tax return.

Is this a serious offence if any??

[minux]

When do I lodge a tax return?

[AttaBoy]

Thanks, do you know how much does he need to pay?? It didn't say anywhere on that site.

[michaelw]

last year I finally bit the bullet and did my last 6 years tax. Yes there are people in this world that slack. I did it through a tax agent (H and r block I think), they said that people are late all the time. I put my returns in and got a letter from the tax man saying "don't do it again!" but no fine.
It depends on the individual's luck but he should be fine.

Mike

[AttaBoy]

Wow 6 years!!! He only missed last year and this year.

[NORTI]

I missed 7yrs because of my hubby I couldnt lodge my returns without his income listed. He wasnt the most informed person of his income etc

Once I got divorced I got allowances to make 'guesstimates' of his income etc to enable me to finally lodge. They hit me with almost $3000 worth of fines & interest


for the record he still hasnt lodged & its been 10 years now


Turns out if they owe you money, your unlikely to get a fine, but if you owe them any money, then they will fine you + interest charges.

[Spaced]

interest charges.

you might find that your interst charges are tax deductible.

[satos]

If you do your tax return yourself and lodge it after 31 October you will be fined.
However,if you go thru your accountant you can lodge it after the closing date.

[NORTI]

you might find that your interst charges are tax deductible.

its that legit?

[Spaced]

its that legit?

I took three years of tax returns in, and they had interest on an old bill. The accountant deducted it for me, now this accountant was straight down the line like you wouldn't beleive. Claimed stuff all but they claimed that so I can only assume it's legal. N.B. The fines not tax deductible though

Also you can claim the money you spent on an account on the next years tax return

[Bax]

My gf's dads paying off some 13 thousand from unpaid tax. I'm fairly sure he's paid it but it was after not lodging his tax for quite some time.