Posted by Tax Advisor on 16 September, 2014
Although it’s time to lodge your 2015 tax return, you still may need to lodge a previous year tax return.
With E-Lodge, it’s not too late to lodge your late tax return. In fact, you can get caught up on your late tax returns without being forced to leave home!
There’s no need to visit an accountant, you can do it all online! In fact, you’ll be able to prepare and lodge a tax return dating back to the 2006-2007 financial year!
Late Lodgement = Late Penalties
If you’re lodging a late tax return, you run the risk of incurring a failure to lodge on time penalty from the ATO.
You’re likely to face penalties if you fall within any of the following categories;
- more than one outstanding return
- a poor lodgement history, or
- not complied with a request to lodge your tax return
In other words, if you don’t fall into any of the above groups or receiving a refund, you won’t be slapped in the face with late lodgement fees.
Late Lodgement Penalties
Late penalties increase every 28 days. Here’s a heads
up on the late penalties you could end up facing;
- 1-28 Days Past Deadline = $170
- 28-56 Days = $340
- 57-84 Days = $510
- 85-112 Days = $680
- 113 Days or more = $850
How to Lodge a Previous Year Tax Return
Why put off completing your tax return when you can get it out of the way in as little as 15 minutes?
Follow these steps to finally complete your late tax return;
- Go to E-Lodge and Create an Account
- In the Tax Year drop down menu, select the corresponding financial year.
- Fill in the online tax form
- Be sure to submit your tax return when finished!
With E-Lodge, you won’t waste time translating complicated tax terms. Instead, we make lodging a prior year tax return simple.
If you have questions while reporting your prior year income, our tax experts are standing by via phone, email and live-chat to help you!
Avoid missing out on your tax refund and lodge your late tax return today! To see what our current customers are saying about their experience with us, click HERE .
It’s Easier With E-Lodge™