Late Tax Penalties Australia

Are you worried about the late tax penalties in Australia that come from years of outstanding or overdue company tax returns or trust tax returns?

Taxopia are experts when it comes to managing overdue ATO business tax lodgements, and we have a great deal of knowledge regarding late tax penalties in Australia. We can arrange and lodge company tax returns or trust tax returns that are up to 10 years overdue. We are experts, we know exactly what content is required for previous year’s business tax returns and the tax laws applicable. If you have an ATO late tax penalty for your tax return don’t leave it until the ATO takes legal action.

The formal name of an ATO late tax penalty is “Failure to Lodge on Time Penalty” or FTL penalty. This is separate from any ATO general interest charge (GIC) penalty and separate to any ATO administrative penalty. The FTL late tax penalty is also not tax deductible to your business.

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What late tax penalties in Australia apply for late lodgement of my company tax return or trust tax return?

Late company tax return:

Late penalties are dependent on whether there is an income tax liability for the relevant financial year. Taxopia can apply to have tax penalties remitted (refunded) by the ATO and we have a track record of being successful in many late tax penalty cases. Call Taxopia today and get overdue tax income returns lodged quickly.

Late trust income tax return:

For a late trust tax return the ATO are less likely to impose a late lodgement penalty because a trust is not generally a tax paying entity. However the ATO still have the power to penalise a trust for late lodgement of a tax return so we highly recommend you contact Taxopia regarding any overdue trust tax returns.

Is there a way to minimise my late tax penalties?

Fortunately for you, if you have overdue tax returns and are worried of the potential penalties you may have incurred, when you work with TAXOPIA, our expert accountants can guarantee tax due date extensions helping you avoid late fees. We can complete and lodge all of your annual business accounting and business tax return reporting, and even offer quarterly BAS solutions as well. Our extensive expertise allows us to provide more complex business tax advice for your company or trust if required.

Individual Tax Return plans to choose from

$150 exc gst *

Annual Compliance: Basic

Individual Tax Return

* Taxopia Fastlane Service available

Need a fast turnaround? If you require your taxes to be completed faster, we have a premium Fast Lane option available for this package which puts your request at the front of the queue of our workflow.

*Excludes public holidays, weekends and office closure dates.

$260 exc gst *

Annual Compliance: Standard

Individual Tax Return with Rental Property and/or Small Business

* Taxopia Fastlane Service available

Need a fast turnaround? If you require your taxes to be completed faster, we have a premium Fast Lane option available for this package which puts your request at the front of the queue of our workflow.

*Excludes public holidays, weekends and office closure dates.

Custom

Full-Service

Ongoing support, compliance, tax returns, bookkeeping

Need a fast turnaround? If you require your taxes to be completed faster, we have a premium Fast Lane option available for this package which puts your request at the front of the queue of our workflow.

*Excludes public holidays, weekends and office closure dates.

Company Tax Return plans to choose from

Full Service Packages

Get all-inclusive financial support with our Full Service Packages.

Covering bookkeeping, payroll, BAS, and more, our expert accountants are here to help your business thrive.

Annual Tax Lodgement Packages

Simplify your annual tax process with our comprehensive packages.

We handle tax planning, preparation, and lodgment, ensuring compliance and minimising tax liabilities.

Unsure which package to choose?

Let our experts help.

Fill out the form, and we’ll contact you to recommend the best solution for your business needs.