Not lodged 2019 yet ? Read this

Discussion in 'Accounting & Tax' started by Paul@PAS, 16th Jun, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    23,555
    Location:
    Sydney
    The ATO are warning tax agents that taxpayers with FAMILY TAX BENEFIT and CHILDCARE ASSISTANCE who have not yet lodged their 2019 tax returns must lodge before 30 June 2020 or entitlements to arrears adjustments will LAPSE. This can mean amounts already received must also be repaid.

    An extended lodgementd deadline with a tax agent beyond 30 June will not cover the Centrelink situation which is governed by other laws that have not been amended and wont be amended.

    Centrelink say :

    Services Australia needs your clients' income details to balance payments for Child Care Subsidy and Family Tax Benefit.

    If lodgment is not made by 30 June 2020:
    ​
      • your clients receiving Child Care Subsidy may
        • lose their ongoing entitlement
        • receive a debt and have to repay the amount received in the 2018–19 financial year
    • your clients receiving Family Tax Benefit may
      • miss out on additional payments
      • receive a debt and have to repay the amount received in the 2018–19 financial year.
     
    Paul@PAS, 16th Jun, 2020
    #1
    Perp likes this.