Changing Tax Agents - 2016. Time Running Out

For those who have yet to complete and lodge 2016 tax who use a tax agent the 31 October deadline is fast approaching. Time to act.

If you are changing tax agents or using a agent for the first time its important they register as your agent before 31 October or you could face late lodgement penalties.

 

A couple years ago I lodged my return maybe two days late. I posted it a few days before the 31st October so it got delayed either by the post or by the ATO internal processing sections.

Anyway, the ATO gave me a stern warning letter. Sure, it was a debit assessment but what ever happened to the seven days grace?

This new commissioner is like a stick in the mud. The one before, D'Acenzo, was more taxpayer friendly I think..I kinda liked him.

 

Taxpayers seem to be dragging the chain with payments and lodgments these days whether a return, BAS or a statutory report. So penalties have been rising (Up to $880 PER FORM !!) and imposition of late lodgement penalties is a easy target. Its hard to dispute if its late or not.

That said the ATO routinely remit interest on many debts. There must be a day coming when they become like a bank and charge 24% and hound people.

I expect this year they could get nasty with late lodgements.

 

Simply remove ALL taxes and increase the GST to 25%. You pay tax when you consume.
Everyone can save a lot of time, energy and money.
Paul needs to fire few staff though

 

Yet to see a late lodgement penalty enforced after remission request submitted.

 

Other than the 25% part, I think that's already happening.... for global companies.