Filing your tax return at the right time should be your primary aim every year. Meeting the deadline can be stressful for anyone, and timely lodging can lead to great returns in the long run. You can actually gain some great financial benefits if you file your tax return on time. When you stay compliant with tax deadlines, your annual tax return preparation gets a boost. This way, you can count on a hassle-free tax return filing process without having to worry about time.
You can also rely on the best team of accountants for an individual tax return in Sydney. This way, things can be even easier and better. If you find it challenging to comply with tax return deadlines, they will do the same on your behalf, make sure that you don’t run out of time with the preparation, and file the return perfectly on time.
But what if you are already late in filing your tax return? You don’t need to worry if you have now hired a specialised team of tax agents or accountants. You can opt for a deadline extension with their help and ensure submission within that period of time.
Why Should You File Your Tax Return Before the Deadline?
When you file your tax return before the deadline, you avoid facing penalties and interest charges from the ATO. So, even if you don’t work for an entire year, you should inform the ATO about your status and submit non-lodgement advice to them.
What Happens When You Miss Your Tax Return Deadline?
When you miss your tax return deadline, you can face big penalties and interest charges from the ATO. For the first 28 days, the penalty charge remains the same. So, if you fail to file the return again, the charges are most likely to be doubled by the ATO in accordance with the rules and regulations. But if you want to avoid this kind of financial loss, you should opt for an extension of the deadline.
How Can You Get an Extension of Your Tax Return Deadline?
The ATO can extend your tax return deadline if you do your taxes with the help of accountants and tax agents. But you need to make sure that you apply for the extension before the general deadline for your tax return. In this case, you also need to meet certain conditions. So, if you are ready to extend the filing of your tax return, read the following to learn what you should meet:
- You have hired a tax agent or accountant from a good and reputable company before the general tax return deadline.
- You have zero previous outstanding tax debts with the ATO.
- You have zero outstanding child support debts.
- You have no unlodged or overdue tax returns from the previous financial year.
Now that you know how to get an extension of your tax return, make sure to hire the best tax agents in Hornsby. They are undoubtedly an advantage for you as an individual. Not only can they help you get an extension, but they can also help you prepare your tax return in the perfect manner and within time. Relying on them can also help you file your return on time every year!
File Your Tax Return with Amaze Accounting Without Worrying About Time!
With us, it can become easy and hassle-free for you to file your tax return. At the same time, we can assure you of a timely submission to the ATO, no matter how complicated your taxes are. So, call us now at 02 8526 0040 to get started with our specialised team of tax agents without looking any further!
