Overdue tax returns

Overdue or Late Tax Returns

There may be a number of reasons why you didn’t file a tax return last year or for multiple years. Being behind on your tax returns can cause a great deal of underlying stress.

We have prepared tax returns for multiple outstanding years for many clients. We helped taxpayers with more than ten years of overdue tax returns, all in one go. So if you’re behind with one or more years of tax returns don’t hesitate to contact us.

The ATO is very clear that you have to lodge a tax return for each year that you received any income. The ATO does not just forgive and forget. And the trouble is, if you ignore old late tax returns, you might be end up receiving costly ATO penalties and interest. We can help you sort that out.

The sooner you get on top of your obligations to the Australian Tax Office the better.

One of the immediate outcomes is that peace of mind can be restored when one’s financial affairs are in order. In addition, you may be due a tax refund and the sooner you receive this the better.

What happens if I can’t find all of my records?

As a registered tax agent, we have access to the tax agent portal and can retrieve your tax records direct from the ATO to help complete your overdue tax returns for you. We can obtain a Pre-filling report from the ATO on your behalf all the way back to 2007. This report includes the data that the ATO has collected about your income from your employer, your bank and your investments.

I owe the ATO money and can’t afford to pay!

When you owe the ATO money, the best thing is to get your late tax returns all up-to-date now, then work with a registered tax agent like us who can help you arrange a payment schedule with the ATO. The ATO can be very reasonable about payments as long as you get on top of it and are honest with them.

Will I be fined for filing my tax returns late?

Generally, the overdue prior year returns may be subject to penalties and interest when lodged. Sometimes you may be let off without penalties on certain circumstances. The sooner you take action the better and we may be able to help you avoid the Failure to Lodge on Time (FLT) penalty.

What JHBST can do for you?

We will assist you preparing your overdue tax returns and liaise with the ATO on your behalf. We will request for extension. Call us to discuss your situation or send us a message using the contact form.