The ATO expects that 200,000 people could miss out on a tax refund this year because they haven’t lodged a tax return.
Many salary and wage earners end up with a tax refund, but some are missing out because they fail to lodge on time.
Taxpayers had until 31 October to either lodge their own return, or ensure they are on an agent’s books. Failing to lodge by the deadline can attract a penalty of $210 for every 28 days that the return is overdue, up to a maximum of $1,050.
Have you run out of time to sort out your tax return this year? We’re here to help – get in touch to talk about your options.