Are you late with your Tax Return? Don’t worry! We can help you get out of Tax trouble with the ATO!
Do you have unfilled, late Tax Returns and now you’re getting worried?
Having late Tax Returns is not the kind of problem that’s going to go away. You might as well face up to it and get your Tax Returns to date. We have worked with hundreds of taxpayers who had late Tax Returns to lodge, who tell us how relieved they are from the moment they called us or fill out our tax agent appointment form. Once you fill out the form appointing us as your Tax Agents, we are contracted to deal with the ATO on your behalf. The ATO knows that we are responsible for handling your late Tax Returns. Just knowing you won’t have to deal directly with the ATO any more can be a huge relief. Call us on (02) 94 167 600 to start the process now.
Do People With Late Tax Returns Get in Trouble?
This depends on your situation. If all your late Tax Returns are refunds, they will probably be assessed without penalty. If you owe the ATO money, they will generally ask for an explanation as to why they are late. The ATO can issue fines (failure to lodge on time penalty) for late-lodged documents, including activity statements and Income Tax Return. They charge interest on money owing. However, if you have a reasonable excuse the interest can often be waived.
We have extensive experience negotiating on behalf of taxpayers with late Tax Returns, and we’ve been able to negotiate for almost every fine to be waived. The ATO usually sends warning letters before issuing a Failure to Lodge on Time penalty. If you receive one of these notices, it is important to act immediately and, ideally, appoint a Registered Tax Agent as soon as you can to avoid making your case more complicated and – potentially – more costly.
In most cases life events like having a baby, buying a car or a new home require people to deal with banks, government, Centrelink etc. Being late with a Tax Return can hinder plans to access loans or government grants or benefits.
Reasons for falling behind with your Tax Return
We have come across all kind of different situations and scenarios but the most common reason for clients falling behind with their Tax Returns are people who owed or thought they owed taxes to the ATO. It is not uncommon to see clients who are six to seven years late with their Tax Returns coming to our office in a panic.
Often, before they come to us, clients who are late with their Tax Returns kept delaying more and more because they were scared to face consequences and trouble with the ATO. They had no reason to be scared. As we worked with them to reconcile the missing documents, identified all the potential claims, and brought their taxes up to date, they ended up with a unexpected Tax refund. in most cases.
What if I Have Lost My Group Certificates?
Another common reasons people have late Tax Returns is because they have lost payment summaries. The good news is that the ATO keep record of people’s payment summaries and we can easily order them in for you. All you have to do is fill in our Tax Agent Appointment form and we will request a copy of all your payment summaries from the ATO. We don’t charge anything for requesting your records, it’s really quite a simple process from our end.
What if I Can’t Find My Receipts?
Most people with late Tax Returns have at least a few missing receipts, and we will be able to advise you of the best course of action in this circumstance. You must have valid records for your claims once they are over a certain amount, which varies from year to year. But there are also some receipts that can be obtained from the supplier if needed, and there are some claims that can be made without receipts. Our experience lodging Late Tax returns means we’ll be able to advise you on a year by year basis until you are up to date.
How Much Will it Cost To Get My Late Tax Returns Lodged?
Late Tax Returns from the year 2000 onward are charged at the same base rate as current year returns. If you have rental properties or complex investments, then the price will be a bit more. Once we’ve spoken with you on the phone, we’ll be able to give you a fixed quote so you know where you are.
Call us today on (02) 94167600 if you are concerned about late Tax Returns.