How to lodge late or previous year tax returns?

Have you been late at lodging your tax returns? For whatever reasons, you became late at it. The ATO however is not going to understand it like when you fail to return your friend’s money. There are some consequences although things don’t get that serious unless you really want to make it hard for yourself.  

Whatever the case maybe it is best to act on it straight away and consulting a professional to look at possibilities of getting them waived   or paying them straight away so as not to incur further penalties or legal action by ATO. 

In many cases you are not required to lodge a tax return but still comply with ATO requirements and lodge a non lodgment advice form with ATO. We can ascertain that for you and lodge the required documents accordingly. A lot of trouble can forgone by meeting a professional Tax Agent who can easily sort these matters quicker and easier than you think.  

How much do I have to pay as penalty for not lodging my tax returns?

For every 28 day period, if one fails to lodge the tax returns, one has to pay $210 could be more in certain types of tax returns. This keeps increasing until it becomes $1050. After that, if someone still fails to lodge the tax, the ATO issues a formal assessment warning letter and further legal action may follow. 

Also there is no tax deduction available for penalties paid to ATO. 

Certainly as they say prevention is better than cure. So, it’s the best thing if you don lodge your returns. But if you don’t, it’s not the end of the world. You will have to do a little work but you will catch up soon. 

Is there any chances of penalties being waived?

There are instances when ATO may waives some or full amount of penalties. As their aim is not to hurt citizens but only make them more aware of lodging tax returns, they may waive penalties in cases with reasonable grounds that prevented you from lodging on time. This could be due to medical emergencies, losing access to source documents required for tax preparation, other personal compelling reasons. 

However, they are likely to not waive any penalties if following are true: 

a) you have more than one returns left 

b) you have a bad history at lodging tax returns or paying tax debts 

Things can certainly get easier from here on if you take guidance from professionals like Accurate Business & Accounting Services. We could also assist you in making an application to the ATO to get penalties waived if we deem them to be unreasonable or your circumstances were unfavorable to have cost you that penalty. 

Can late return be submitted?

Now you might be thinking of paying the tax even if it’s late and catching up to where you need to be and that’s the only sensible thing to do. Although, it might sound bit confusing, it can be done.  

Visit ABAS tax accountants. We will work with you and prepare your tax returns, ATO statements and make a route for you to follow so that the path to tax lodging can be easy and hassle free. 

 We will also find out what kinds of deductions you can still get. You have to bring your bank statements, receipts and any sort of documents that reveals your financial information and with your consent. 

We can lodge all your previous years tax returns be it 2 years or 10 years. 

We have quick turn around times for urgent matters. We can also attend to your notices or demand letters from ATO for non- lodgement or late lodgement. We could speak to ATO on your behalf to take extensions and get all your tax matters up to date within ATO guidelines saving you thousands of dollars in penalties. 

Enough talk-How do I lodge my late tax return?

Making matters complicated is the last thing you need when you are falling behind at tax returns. You have to catch up to where you need to be, otherwise things are just going to pile up more and more. 

First, you can book an appointment to Accurate Business & Accounting Services and visit our office. Now that you have some professional guidance, you can figure out the processes in detailed manner. It is going to be hassle free, error free, transparent and trustworthy. 

If you fall under the category to not have to lodge a return, we will file a non-lodgment advice to ATO. Furthermore, any deductions that can be asked, any sort of advice, Tax guidance will be provided to you.  

We will also advice you how to keep records of financial information and give advices regarding being on time for the next lodging.  


What Our Clients Say About US

Highly recommend them! I have a very complex tax return, and the team here dealt with it patiently and very swiftly. They are responsive (even during Christmas and NY), professional, honest, no fluffing around and just get the job done. I found them through another google review! And it was accurately describe to be reliable.
Ie Erlina Lie
Ie Erlina L.
07:09 13 Jan 21
Very easy to deal with .Excellent service service.
Jackson T.M
Jackson T.
10:13 29 Oct 20
Will definitely return to this accountant for my tax return next year, everything was well explained, what can be claimed and not. Easy, clear and fast
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altynay K.
00:32 29 Sep 20
Great service by Sharan
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Pjay S.
06:11 12 Sep 20
My Wife and I have used this Accounting Business for more than 10 years, their staff and Principal are extremely professional, polite and informative.Thanks so much, for your continued guidance in our Income Tax returns.
lyndon welsh
lyndon W.
08:51 29 Aug 19
I would highly recommend ABAS Bookkeeping as they have transformed the way I was running my business.After having two previous bookkeepers and paying thousands, I never had a clear picture what was happening on the account's end and had to constantly chase the Bookkeeper for things but those days are gone.ABAS Bookkeeping have been professional providing a high standard of service at very reasonable rates.I couldn't be happier!
Monique Turner
Monique T.
21:13 28 Aug 19
A great experience all-round. Professional, knowledgeable and accommodating with appointments. Thank you!
Mary Semaan
Mary S.
00:18 12 Aug 19
I am using ABAS from few years and never been disappointed. The agents are very friendly and helpfull .
sanya miglani
sanya M.
11:03 09 Aug 19
Excellent tax agent,very helpful.I have recommended my whole family and friends to come here.I have been going to this particular Tax agent for the last 12 years.
daniel kumar
daniel K.
03:50 08 Aug 19
Great value for money. I had a requirement to claim my travel for work with various other expenditures. I ended up paying about half of what I normally pay at one of the big firms. Also I was happy with the refund amount which I received. Rupinder is a really nice bloke. I would return here as this was a good value accounting business.
01:32 05 Aug 19
Rupinder is a Very good Tax Accountant. All my family members and friends use their taxation service with different types of returns. Rupinder is Very understanding and up to date with all tax regulations, deductions and any other tax matter wether it be relating to shares and investments, rental property, ABN income and GST. All the staff are fantastic. Highly recommend.
Puneet Sharma
Puneet S.
05:32 04 Aug 19
Excellent Service and Great Team
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Coregas G.
09:22 26 Jul 19
Very friendly and professional service. The prices were very reasonable. Highly recommended!!
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Rejan B.
08:01 26 Jul 19
Good service, friendly staff
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raisha N.
06:59 26 Jul 19
Professional serviceCustomer respectExcellent tax returnsHighly recommended
Maureen Kilkeary
Maureen K.
12:36 23 Jul 19