Quick Tax Question

[Obi-Haive]

Hope someone can help.

My wife and I totally forgot about our tax last year (I know, stupid but it's been a big year). Does anyone here know what I need to do to send in my return for 2006/2007 and do you know if there are any fines etc involved?

 

[Rob]

I assume you mean the 05-06 return.
Solution: Fill it out. You might cop a $110 fine plus interest on any tax payable at the worst. If you're due a refund then you probably won't get any fine.

 

[Astro_]

going to an accountant would almost ensure there is no fine.

 

[FrediKanoute]

going to an accountant would almost ensure there is no fine.

Not necessarily. With an Accountant you have until Jan/Feb to lodge your return as opposed to the end of September. No lodgement will still result in a fine.

 

[YOTC]

a mate of mine who is a ceiling fixer didn't do his tax for 7 years. But that was all refunds, had about $1000 taken out in fines i think.

 

[kolchak]

Depends if you owe them a substantial amount...if a small amount or if they owe you then you shouldn't get fined...experience

You'll get a letter from them after they recieve your tax details telling you if they will wave the fine.

 

[Obi-Haive]

Cheers for that guys, I will get it done straight away and hope they waive the fine (for a first offence)