Why Filing Taxes Has Become The Need Of The Hour?
As your tax advisor in Reading would tell you, you must lodge a tax return with ATO (Australian Taxation Office). However, there are certain situations where you may not need to follow this process. For example, right now if you are earning less than 18,200 dollars and are not paying any taxes you need not file a tax return with ATO. However, you still have to provide ATO a non-lodgment advice. This is basically to inform ATO that you do not have to file. This also makes sure that it does not mark you as someone who has an outstanding return. If you do not lodge this particular advice ATO would automatically assume that you are supposed to lodge and will take action against you to make sure you lodge. The Fine for Not Lodging a Tax Return In these cases, you would first be served an FTL (Failure to Lodge) by ATO. This is especially when you have not filed your tax return within the due date. At present, for 28 days each, you get one penalty unit. This can go up t