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.

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 Returns Company Tax Returns

Late Tax Penalties Australia

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

Is there a way to minimise my late tax penalties?

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

Sitemap

Contact Us

Enquire Now