Individuals who submit their own income tax returnsneed to do so by 31 October to avoid potential late lodgement penalties, the Australian Taxation Office (ATO) has warned.
As at 22 September, more than 7.9 million people had already lodged their individual tax returns, with 3.8 million of them choosing to use a registered tax agent.
ATO assistant commissioner Rob Thomson urged those who are yet to finalise their tax returns or engage with an agent to “act now”.
“If you’re lodging your own tax return, the due date to lodge is 31 October 2024. If you’re using a tax agent, you need to be on their books before then … if you believe you may have difficulty meeting your tax obligations, contact the ATO prior to the deadline to lodge so that we can take your circumstances into account.”
For taxpayers who are procrastinating in order to avoid a tax bill, he states that the due date to pay most tax bills remains the 21 November, regardless of when they lodge their returns.
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