Updated: Oct 25
The purr-fect reminder to submit your income details to ATO
Tax time can be a head spinning experience. What do they want? Am I being fined? Have I forgotten to submit something? Where do I start? What do I need to do next?
The deadline for DIY Tax Returns is on 31st October i.e. if you are lodging your own tax or risk receiving a fine totalling more than $1100.
Because this year October 31, 2021 falls on a Sunday, the effective last day to lodge a return is the following Monday on November 1, 2021.
Extensions are available for registered tax agent clients on or before the deadline.
Failure to submit a tax return results in a fine of one penalty unit (or $222) for every 28-day period that the tax return is overdue. The ATO says the maximum fine is five penalty units, or $1110.
If a taxpayer chooses to use the services of a registered tax agent like CATS4Tax Accounting & Taxation Services, they must "engage" us prior to October 31.
Taxes and numbers really don't have to be so terrifying. We have direct access to the ATO's office, so your questions get answered a lot quicker.
Feel your stress melt away by setting up a meeting or call 0404 483 685, where we can provide you a range of tax services.
Range of Tax Return Services
There's a wide range of situations where you're obliged to lodge a tax return. This is where we can help if you're not sure. Young or elderly, personal or for business, you may well be required to lodge a tax return. The process isn't as scary as people may think, and that's what we do best - taking the terror out of taxes and financial situations.
Here are some situations where clients have benefited from our services:
1) The Young and Elderly
Are you under 21 and working casually? Did you know it's necessary to file your tax returns?
As a senior, you may be in a situation where you actually need to lodge your tax returns. We can help clarify if you need to do so.
2) Personal Taxes
Personal Tax Returns can feel intimidating if you're in a situation or trade that has special requirements. Did you know that tax concessions are available for some special professions (e.g. musicians, artists, sportspersons)?
We can help you clarify your situation and what you need to do to ensure your personal tax returns are done cleanly and you don't miss out on any requirements or concessions.
3) Business Taxes
If you're starting up a business, we can help lodge your Sole Trader Tax Return and BAS Lodgements. As long as you have an ABN, we can help you organise all you need to be up to date with your tax obligations.
Need Financial Clarity and Xero Accounting Services for your Small Businesses?
Relief from tax stress and financial confusion is possible. The work we do has a ripple effect on our clients - it goes beyond just making sense of numbers or straightening out records. Cheers.
Get in touch with CATS4TAX:
0404 483 685