Don’t miss the 31 October tax return lodgement date!!
There are different rules regarding the lodgement date for your tax return, depending on how you choose to lodge it and whether you have any unlodged tax returns.
Normally, you are required to lodge your tax return by 31 October 2016. This is a standard date and applies to everybody who lodges their own tax returns.
However, you can extend this date!
The quickest and easiest way to extend the lodgement date of your tax return is to appoint a registered tax agent. This way, you get an additional 6 months to lodge, which usually extends the date to 16 May 2017.
You need to take action now to get this extension!
If you want to secure an additional 6 months to get your tax return prepared, then it’s essential that you appoint a tax agent before 31 October 2016. They don’t need to do anything bar let the ATO know that they are responsible for lodging your tax return and you’ll secure your additional 6 months to get everything in order and ensure you get your maximum tax refund.
If you are not using a tax agent, you can still apply to the ATO for an extension of time to lodge. You will need to provide special circumstances such as unforeseen medical or family difficulties that will prevent you from lodging your return on time. Overseas travel is unlikely to be an acceptable reason, as you are expected to plan around this.
Who will not be allowed an extension?
If you have any previous unlodged tax returns you will not be eligible to receive the extension and your tax returns will be required to be lodged by 31 October.
If you have multiple lodgements to do, you are allowed to do them out of order. So, even if you can’t catch up on your entire backlog before 31 October, you should still do your best to get your 2016 return lodged on time.
If you want to ensure you get your lodgement extension, speak to us today. We are registered tax agents and can assist you with your personal or business tax returns, provide advice and help minimise your tax liability and maximise your tax refund.
With something as complicated as the Australian tax system it can really pay to have an expert on your side, so call us today on 08 9204 3733 for an obligation free review. BSN & Co – your partners in stress free tax return lodgements!