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Insight Spring 2011

REMINDER- if you have not lodged your 2011 tax return you may need to take action in October, to avoid any tax office demands or penalties

Your lodgement date is 31 October unless you register with H&R Block or another tax agent, to tell the tax office you are lodging through a tax agent, before 31 October

 The due dates are:

 31 October 2011

  • If you have outstanding tax returns for past years
  • If you do not lodge through H&R Block or another tax agent, and notify the tax office that you are using a tax agent for this year’s tax return

 31 March 2012

  • Level 6  taxpayers, those clients whose tax bill in 2010 was $20,000 or more and are listed as clients of H&R Block or another tax agent

 15 May 2012

  • All other taxpayers who had a tax bill in 2010 and are listed as clients of H&R Block or another tax agent

 5 June 2012

  • Taxpayers who were non-taxable in 2010 or who received a refund and are listed as clients of H&R Block or another tax agent
  • Taxpayers whose date for lodgement is 15 May 2012 but pay their tax bill on lodgement of the tax return.

 NOTE:  The ATO advises that it has sent default assessment warning letters to taxpayers with overdue returns where there is evidence that they received taxable income in the relevant financial years.  If the overdue returns are not lodged by the date specified, the ATO will issue default assessments for these clients based on the estimated taxable income included in the letter.

 

Clarification to Education Tax Refund (ETR) Eligibility Rules.

Do you want to improve your claims for a tax deduction.

ATO Help for small business experienceing short-term financial difficulties