Don’t wait until 31 October to get a tax agent or lodge your tax return

www.nomoney.com.au

 

A girl I worked with told me that she had prepared her tax return but was waiting until 31 October to lodge her tax return. I told her a few reasons why that wasn’t a good idea:

 

  1. Payment date is 21 November

Regardless of when you lodge your tax return, the due date for payment is 21 November (of course unless you lodge through a tax agent who receive an extended due date as long as you don’t have multiple years outstanding).

 

  1. Everyone lodges on the last day

On deadline days the ATO experiences a lot of traffic. 31 October is one of the busiest deadlines of the year because individuals are lodging their tax returns.

Also tax agents are lodging client returns because 31 October is the due date for their clients with outstanding tax returns.

 

  1. It is slow and frustrating and might not work

When everyone lodges on the same day, the ATO systems can be very slow and sometimes don’t work. It is a bit like when you were at uni and looked up your uni results one minute after you were allowed to. Because everyone was doing the same thing it usually took ages to get through.

 

Using a tax agent – let them know before 31 October

If you decide to use a tax agent to lodge your return, the tax agent needs to have added you to their tax agent list by midnight 31 October.

Posted in Life, Tax

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