Late Tax Return

Late Tax Return Services in Melbourne

You must lodge an income tax return every year. However, you might fail to lodge your tax return on time due to being too busy, being overseas, or not understanding the process and finding it too confusing. Anyone who has overdue tax returns may get penalised by the ATO, leading to them owing money. No matter the reason for failing to lodge your tax return on time or at all, getting your finances up to date by lodging overdue tax returns will provide you with some peace of mind

Do you need to lodge an old tax return, or have various late tax returns you need assistance with? AIM S Australia is a Melbourne based accounting firm that offers first-rate late tax return services that can help you get up to date with your taxes. We will assign one of our certified late tax return accountants to check your status with the ATO and help you with correctly filing old tax returns.

What Are the Penalties for Not Lodging Overdue Tax Returns?

People with late tax returns may incur a “failure to lodge on time” penalty of approximately $222 from the ATO for every 28 day period or part thereof that their tax return is outstanding. This penalty will continue to accumulate until it has reached a maximum of $1,110.

If you continue to neglect your responsibility to lodge your overdue tax returns, the ATO might send you a formal default assessment warning letter. This letter will include an estimate of your income for the year you did not lodge a tax return for, which the ATO can use to issue you with a default assessment. The amount of tax you owed as estimated by the ATO will likely be more than what you originally owed and will not include any deductions you are eligible for. The ATO may even prosecute you for not lodging overdue tax returns if they deem it necessary to do so.

Can I Still Lodge an Old Tax Return?

The short answer is yes, and this is something which AIM S Australia can help you with. One of our late tax filing professionals can check your current tax lodgement status with the ATO to verify which years you did not lodge a tax return for and what exactly they require you to report. Once this has been taken care of, our late tax return accountant will speak with you to ascertain how much income you made during the year you did not lodge your tax return for.

How Can I Lodge an Old Return?

AIM S Australia can help you with filing old tax returns. Having a consultation with one of our late tax filing professionals at our Melbourne CBD office is a straightforward and stress-free way of getting your taxes back in order. After our late tax return accountant has helped you get back up to date with your late tax returns, they can continue to help you to stay on top of your taxes throughout the year and remind you when your tax return is due so it’s not late again.

Contact Us Today

If you’re looking for a firm that can help you with filing old tax returns, feel free to contact our team in Melbourne. Call us on 1300 112 467 or send an online enquiry today to book a consultation with one of our certified late tax filing professionals.