Any fine is money down the drain so it pays do the right thing on the roads and public transport. Similarly, it pays to heed Australian Tax Office deadlines.
The deadline if you’re lodging your own tax returns is 31 October. If you have a tax agent acting for you then you have much more breathing room – until 15 May 2023.
H&R Block Mark Chapman director of tax communications says a late tax return can cost you dearly.
“If you lodge any later than (31 October), you’re potentially up for a penalty which is $220 for each 28 days that it’s turned in late,” he says.
“So that can multiply and continue to multiply up to five times.”
That would take the total fine to $1100. Best to stick to the deadline.
What’s the worst fine you’ve ever copped?
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