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.

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.

For any inquiries, please call: 1300 829 674 or fill out our online form

A friendly reminder…

Please note that is a self lodgement service and does not include electronic lodgement by Taxopia. One of our qualified accountants will prepare your tax return, but it is your responsibility to print, sign & post to ATO to lodge.

If this option suits your needs, please click below to get started.

Yes, let’s go!

You’ve chosen the Taxopia Lite Package…

Please note that is a self lodgement service and does not include electronic lodgement by Taxopia. One of our qualified accountants will prepare your tax return, but it is your responsibility to print, sign & post to ATO to lodge.

If this option suits your needs, please click below to get started.

Get started now!

* Sole Trader Package pricing conditions, please take note the pricing excludes the following items; however, these services can be provided for an additional cost.

Excludes businesses with turnovers of more than $1 million per year.
Excludes Capital Gains Tax events.
Excludes share trading activities
Excludes fixing bookkeeping errors
Excludes fixing GST errors
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote.

Get started now!

* Premium Package pricing conditions, please take note the premium pricing excludes the following items; however, these services can be provided for an additional cost.

Excludes businesses with turnovers of more than $3 million per year
Excludes Capital Gains Tax events
Excludes share trading activities
Excludes Partnerships that have partner loans owing to the company. (Division 7a)
Excludes fixing bookkeeping errors
Excludes fixing GST errors
Excludes asset finance schedule reconciliations above 4 (i.e.up to 4 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero.
Excludes Accountant & Manager support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that service is being provided for.

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* Standard Package pricing conditions, please take note the standard pricing excludes the following items; however, these services can be provided for an additional cost.

Excludes businesses with turnovers of more than $1 million per year.
Excludes Capital Gains Tax events.
Excludes share trading activities
Excludes Partnerships that have partner loans owing to the company. (Division 7a)
Excludes fixing bookkeeping errors
Excludes fixing GST errors
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero
Excludes Accountant Tax Adviser support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that service is being provided for.

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* CONDITIONS to our Basic Tax Reporting Package for Partnership Tax Return ($400+ GST), excludes the following items:

Excludes Capital Gains Tax events.
Excludes Partnerships that hold property or share portfolios.
Excludes Partnerships that have partner loans owing to the company. (Division 7a)
Excludes Partnerships that has carry forward losses in excess of $100,000.
Excludes us preparing depreciation schedules and calculation.
Under this package, we do not accept summarised excel spreadsheets, unless your partnership turnover is below $30,000 per year. Financial data must come from an Accounting platform where either you can grant us access to generate the reports from, or you create the reports yourself and send them through to us.

If you do not qualify for this option, you will need to consider our Standard Tax Reporting Partnership Tax Return ($800+ GST) option.

Get started now!

Company or Trust Tax Return for Accountants & Bookkeepers

* BASIC PLAN ($400+ GST) CONDITIONS, excludes the following items:

Excludes Capital Gains Tax events.
Excludes Companies or Trusts who hold property or share portfolios.
Excludes Companies who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)
Excludes us preparing depreciation schedules and calculation.
Under this package, we do not accept summarised excel spreadsheets, unless your company turnover is below $30,000 per year. Financial data must come from an Accounting platform where either you can grant us access to generate the reports from, or you create the reports yourself and send them through to us.

* STANDARD PLAN ($800+ GST) CONDITIONS, excludes the following items; however, these services can be provided for an additional cost.

Excludes Capital Gains Tax events.
Excludes share trading activities
Excludes Companies who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)
Excludes fixing bookkeeping errors
Excludes fixing GST errors
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero

Get started now!

* Premium Package pricing conditions, please take note the premium pricing excludes the following items; however, these services can be provided for an additional cost.

Excludes businesses with turnovers of more than $3 million per year
Excludes Capital Gains Tax events
Excludes share trading activities
Excludes Companies who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)
Excludes fixing bookkeeping errors
Excludes fixing GST errors
Excludes asset finance schedule reconciliations above 4 (i.e.up to 4 asset finance schedules are included)
Excludes year-end adjustment entries to match your bookkeeping figures to the financial statements for all record-keeping software other than Xero.
Excludes Accountant & Manager support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that service is being provided for.

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* Standard Package pricing conditions, please take note the standard pricing excludes the following items; however, these services can be provided for an additional cost.

Excludes businesses with turnovers of more than $1 million per year.
Excludes Capital Gains Tax events.
Excludes share trading activities
Excludes Companies who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)
Excludes fixing bookkeeping errors
Excludes fixing GST errors
Excludes asset finance schedule reconciliations above 2. (i.e. up to 2 asset finance schedules are included)
Excludes Accountant Tax Adviser support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that service is being provided for.
Excludes Accountant Tax Adviser support for other unrelated tax years. This support, regarding the tax minimisation and tax position, is only available for the relevant tax year(s) that service is being provided for.

If any of these exclusions apply to your businesses, please contact us, and we would be happy to provide you with a customised quote for any additional work.

Get started now!

* CONDITIONS to our Basic Tax Reporting Package for Company or Trust Tax Return ($400+ GST), excludes the following items:

Excludes Capital Gains Tax events.
Excludes Companies or Trusts who hold property or share portfolios.
Excludes Companies who have Director(s) or Shareholder(s) loans owing to the company. (Division 7a)
Excludes Companies or Trusts who has carry forward losses in excess of $100,000.
Excludes us preparing depreciation schedules and calculation.
Under this package, we do not accept summarised excel spreadsheets, unless your company turnover is below $30,000 per year. Financial data must come from an Accounting platform where either you can grant us access to generate the reports from, or you create the reports yourself and send them through to us.

If you do not qualify for this option, you will need to consider our Standard Tax Reporting Company or Trust Tax Return ($800+ GST) option.

Get started now!