While most sole proprietors and businesses tend to look forward to submitting their tax returns, it can’t be blamed that some may miss the ATO deadline. If you think you might not be in time to prepare your tax return documents for this financial year, don’t panic! Tax Purpose is experienced in assisting clients from different industries resolve any of their issues to do with tax return preparation.
If you think you’ll be missing the deadline for this financial year, remember that the first thing you should always do is to consult our tax professional. At Tax Purpose, our firm is always prepared to dispense invaluable advice when it comes to helping clients figure out any dilemmas to do with their tax return. We understand that life can sometimes get in the way of preparing these documents – whether you’ve been too busy or have been away, it’s never too late to get our assistance.
We Can Support You if You Need to Lodge a Late Tax Return
Even if it’s been a few years since you’ve lodged your last tax return, it’s never too late for you to submit your relevant documentation. Some of our clients have understandably been concerned and worried about having to finally submit their tax return after years of not having done so. The truth is, there’s no reason why you should not keep the peace of mind from having cleared this backlog and sorted any outstanding or overdue tax returns. All you need is to contact our registered agent at Tax Purpose, so we can set things in motion and support the preparation of your tax return submission to the ATO.
Should I be Mindful of Any Penalties for Lodging My Tax Return Late?
The truth of the matter is that the ATO can and might apply a penalty, for failure to lodge your tax return on time. Accompanying this penalty is a rate that is calculated according to a period of 28 days. However, this penalty might multiply if it involves a larger business entity. Consulting with our tax agent will allow you to gain a clearer picture of how your own circumstances might factor into any event of late penalties issued by the ATO.
Regardless of how late you may be to submit your tax return, it simply makes no sense to delay this any further. Tax Purpose can assist in the speedy preparation of your tax return documents, so you can plan to handle any penalties accordingly. We can also assist you with taking into account any possible tax deductions, so as to mitigate the backlog in dues owed in terms of penalties or otherwise to the ATO.
Tax Purpose is Always Ready to Assist No Matter How Delayed Your Tax Return May Be
Apart from assisting with the preparation of your tax return documents, and identifying any deductions from your income tax, Tax Purpose can also assist you across a broad range of tax-related matters. Among these include understanding ATO requirements, as well as any ongoing bookkeeping you may require for your business. If you would like our tax agent to assist you with lodging your tax return, do give us a call today on 03 8839 6062.