What would Happen if you don’t lodge your return:
Every day the massive computer center at the ATO is getting more sophisticated, it’s just a matter of time before they catch up with you.
This is not a situation to take lightly, failure to lodge your return within due date ATO may impose penalty. The fine is calculated at the rate of one penalty unit for each period of 28 days. The value of a penalty unit is $210.00 which makes the maximum penalty of $1,050.00 can be applied for an individual.
Will I get prosecuted if tax is not lodged:
ATO can and does prosecute for not lodging the returns though it is not common. However, the maximum penalty which can be applied on prosecution is $8,500.00 or imprisonment for up to 12 months.
Will I be audited if not lodge:
If you lodge late, it is to be believed that you are at increased risk of being reviewed by the ATO. You can always consult with us and we are ready to answer questions if ATO raise them.
What should I do if I haven’t submitted my returns:
you should take pre-emptive measures to submit your return ASAP as ATO will catch you up. where there is a penalties can be remitted, we will make an application ob behalf of you to ATO.