Australians have just days left to lodge tax return and avoid fine
Australians have just days to submit their tax returns or potentially face a fine.
The deadline for those lodging their own tax returns is 11.59pm local time on Monday, November 2.
Australians have just days to submit their tax returns or face steep penalties. Getty
The lodgement date is different this year, as the usual October 31 deadline falls on a Saturday, which means individuals have a few extra days to tick the task off their lists.
Failure to lodge can attract a penalty of up to $364 for every 28-day period the return is overdue, up to a maximum of $1820 for individuals.
However, eligible taxpayers who are on a registered tax agents book by October 31 could have until May 2027 to lodge.
H&R Block director of tax communications Mark Chapman said leaving tax returns until the last minute was not uncommon.
“According to the ATO’s latest figures, released on October 19, around two million Australians preparing their own returns were still yet to lodge, despite approximately nine million returns already having been received,” Chapman said.
"While that doesn't mean all two million will miss the deadline, it highlights just how many Australians leave their tax affairs until the final weeks.
"There's no single reason people put it off.
“Some simply procrastinate, while others might be worried about receiving a tax bill, unsure what they can claim or overwhelmed by the paperwork involved.
"That uncertainty is understandable, particularly when people's financial circumstances have become more complicated.
“The important thing is not to let it become a reason to avoid lodging altogether.”
According to Chapman, missing the deadline doesn’t automatically mean you’ll receive a fine.
“The ATO generally takes a reasonable approach to isolated cases of late lodgement, particularly where someone has a good compliance history or is expecting a refund,” Chapman said.
"Where people can run into trouble is when they repeatedly miss deadlines, have outstanding returns from previous years or ignore reminders from the ATO.
"One thing I'd strongly advise against is delaying your return because you're expecting a tax bill.
“Putting off lodgement won’t necessarily change when that bill is due, and it could leave you facing additional penalties.“
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.
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