• Todd Zani

Have you lodged your 2017 return yet?

Updated: May 21, 2018

At Ezetax, the time for lodgement of 2017 income tax returns for most individual taxpayers lapsed on 15 May 2018. Did you lodge on time?

The last date for lodgement for most individual taxpayers was 15 May 2018, however, some taxpayers will in fact have up until 5 June 2018 to lodge their returns and pay the tax that is owed without incurring penalties.

In fact, for individuals and trusts that didn't lodge on time but which do lodge before 5 June and pay the tax owing on or before 5 June, the ATO will not apply failure to lodge on time (FTL) penalties.

"Lodge and pay your tax liability before 5 June to avoid failure to lodge on time penalties."

Do you need to lodge a return?

If you are earning under the tax free threshold, you do not need to lodge an income tax return but if you have had tax deducted from your pay, it is most likly that you are eligible for a a tax refund.

If you don't need to lodge a tax return, you should submit a non-lodgement advice to the ATO. This document informs the ATO that you don't need to lodge this year and ensures that the ATO doesn't list you as having an overdue return which still needs to be lodged.

If you don't file a non-lodgement advice, the ATO will assume and still expect you to lodge a return and may force you and take action to force you to lodge!

What are the penalties for not lodging?

Initially, the ATO will impose a Failure to Lodge (FTL) penalty on you where your tax return is not lodge by the due date. This penalty is calculated at the rate of one penalty unit for each period of 28 days or part thereof that the document is overdue, up to a maximum of five penalty units. The value of a penalty unit is $180, so the maximum penalty which can be applied to an individual is $900.

This penalty will automatically applied to your account but it is not normally applied to returns that either have a nil result or generate a refund. There a penalty is applied, the ATO will consider remitting the penalties where it is "fair and reasonable" to so so, for example in the event of a natural disaster or serious illness.

For a no obligation, chat to get your income tax affairs in order or up to date, contact us on 08 9249 7422 or contact us via our website -

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