Deadline to file tax return 2012 australia

An automatic six-month grace period is allowed, following which a penalty of TTD accrues for every six months or part thereof that the return remains unfiled.

Tax returns are filed for income earned in a calendar year which coincides with the tax year except in the case of a sole trader or partnership, where filing is done according to the accounting terminal date. Each individual must file a separate tax return. There is no provision for joint filing by husband and wife. Income tax is deducted at source on all employment income under the pay-as-you-earn PAYE system. Any shortfall of taxes deducted at source should be settled by the due date i.

Your message has been sent. Share to Facebook Share to Linkedin. Book an appointment with an expert. Book Now. Share Share to Facebook Share to Linkedin. Related Articles. Tax Tips. Every year, the ATO looks closely at tax claims which relate to holiday homes to ensure that peop Depending on what you do for a living, that can give rise to some unexpected deductions!

Want to know what kind of jobs are most suitable for retirees? We've listed 5 of the smartest sec Tax Impact on Bankruptcy and Insolvency. Few events in life are more stressful than financial difficulty such as bankruptcy or insolvency Close modal. These deadlines only apply if a person is required to submit a tax return, and they choose to lodge it themselves without using a registered tax agent.

Despite the ominous fines, the tax office says in many cases it will not apply a penalty at all if it's a one-off situation. Generally, we don't apply penalties in isolated cases of late lodgement," the ATO advises. If we apply FTL penalty, we'll send you a penalty notice stating the amount and due date of the penalty. If a taxpayer lodges their own tax return and it results in a bill where the taxpayer owes the ATO money, they have until November 21, to pay that bill — even if they lodged late.

The due date for payment when you lodge your own tax return is 21 November even if you lodge late. Interest will apply to any amount you owe after 21 November. Australians lodging a tax return for the first time who may be confused about their obligations can read more on the ATO's website here.