Do you have an overdue return? Don’t let the penalties hit you! – Late tax Returns Canberra
Have you forgotten to lodge an old tax return or have multiple overdue returns from prior years? Is this keeping you up at night or becoming a worry for you? It is your legal obligation to submit an annual tax return and it is essential to get it lodged as soon as possible. At MAS Tax Accountants Canberra, we can assist you in preparing and lodging late tax returns. We have helped several clients to lodge late tax returns, some being up to 10 years overdue. Whether you are an individual or small business entity, we can process your late tax returns Canberra and help you to manage your tax commitments.
If you currently have a late tax return, you are not alone and may be amongst an increasing number of people with a late tax return Canberra. It is not uncommon for taxpayers to miss their lodgement deadlines and become overwhelmed with the complexity of their return. Due to busy lifestyles, every day distractions and other important commitments, it can be difficult to find the time for your tax return. However, when your tax return becomes overdue, it is vital that you resolve the issue as soon as possible. It is undeniable that overdue tax returns can be sources of trouble and can result in penalties or fines from the ATO.
Penalties for Late or Failed Lodgement
Failure to lodge on time can result in a range of penalties, that tend to start from $180 for individuals and small business entities. For medium and large businesses, these fines can become much larger. You can find more about penalties at the ATO website.
Lodging your Late Tax Return Canberra
At MAS Tax Accountants Canberra, we understand that having overdue tax returns can be unpleasant. But we know that getting them out of the way can bring back your peace of mind and also can help to minimise related penalties, if your meet certain ATO criteria. Depending on the tax return year, you may not be able to lodge the return yourself online via myGov. Instead, you will need to speak with a Tax Agent, such as MAS Tax Accountants Canberra.
If you have late tax returns, it is best to lodge them as soon as possible. You should not wait to lodge your taxes, as the ATO penalties are likely to increase the longer you wait. However, there are circumstances where you may be eligible for to have these fees remitted, if it is deemed fair and reasonable. The ATO Guidance list may offer you more information.
Late Tax Return Services
At MAS Tax Accountants Canberra, we are dedicated to providing premium, cost-effective late tax returns Canberra. We can help you to lodge your overdue tax returns from multiple years, and can assist you in reducing your penalties or establishing a payment plan. In some cases, it may be possible to request a remission of penalty.
Our experienced and professional team work closely with all of our clients and aim to provide the best possible solutions. This could include preparing your returns, helping to manage your lodgement duties, and providing advice on how to maximise their tax refund or minimise tax payable. With many flexible appointment options, we can discuss your tax needs at our Civic Square office, over the phone or via email.
MAS Tax Accountants Canberra, you can rest assured knowing that all of your tax responsibilities are being prospered handled. Providing up-to-date and relevant knowledge on tax laws and accounting practices, it is our focus to ensure that you receive the best services. We can also help you to remain organised throughout the year and for the following years, and prevent any future late tax returns Canberra.
Learn more about our Canberra office and the full list of services that we provide.
For more information or to make an appointment, please contact us below or call us on 1300 627 829
