Dear all,
I'd like to ask about the tax return for the last year 2019-2020 during Covid locked down I am unable to claim it with the tax return agent. Can I claim it by myself now or I have to see the tax agent to do it?
Thanks in advance.
Tax return 2019-2020
icegel on 07/04/2021 - 15:29
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I dont know what the question actually is?
Welcome to the OzTax website. The next 20-30 customer representatives will be with you shortly. Thank you.
What are you trying to claim?
Their tax return.
If you are lodging tax return via eTax, then the due date for 2019-2020 has passed (31 Oct 2020) but you should still be able to submit but with penalty.
However if you are lodging via a tax agent then you get the extension until 15 May 2021. I do not think "COVID lockdown" is a valid excuse though, as plenty of tax account would work with you online via a Zoom meeting.
I have a friend who knows he will end up with a tax bill.
So he does his tax via mygov late, like only last month for 19/20, then when the bill comes he always gives them a sob story and they agree to no penalties and the offer of spreading the tax owing (between $2k to $5k) over 12 months.
I literally point out where it says there are penalties and to stop being late but he seems to laugh it off.
I have a friend who knows he will end up with a tax bill.
Sob stories etc are pointless… You can always organise to repay it with zero interest. You can even do these payment plans via etax!
What about the penalties for being late?
Are they discretionary?
@tsunamisurfer: The ATO can't be seen to be pushing people into debt… so if you give a sob-story, and offer to setup a payment plan.. then you can likely get away with it.
Obviously there are limits… the ATO do have access to your bank records, and your (declared) income statements.
So an "I'm so poor" sob story when you pulled in over a quarter of a mil' in dividends from your blue-chip stocks is probably not going to go over well.
However if you are lodging via a tax agent then you get the extension until 15 May 2021. I do not think "COVID lockdown" is a valid excuse though, as plenty of tax account would work with you online via a Zoom meeting.
Just be mindful that you are supposed to engage the agent prior to October 31 (if you haven't used them before).
https://www.ato.gov.au/Individuals/Lodging-your-tax-return/L…
If you're using a tax agent for the first time, or using a different tax agent, you need to contact them before 31 October to take advantage of their lodgment program due dates.
Just be mindful that you are supposed to engage the agent prior to October 31
Not sure you can do that if you are already married…
huehuehue
If you are a 'normal' PAYG taxpayer, without complexity (eg, trusts, Film Australia deductions, many investment properties, etc), then you would be most unlucky to incur a penalty.
From the page quoted by Scotty: "We recognise that sometimes people don't meet their lodgment obligations on time, even with the best intentions. Generally we don't apply penalties in isolated cases of late lodgment."
Coupled with these strange times, as long as you don't have a history of audits or late lodgements, you're likely to be fine, either eTax or via an agent.
Do you owe tax or are you expecting a refund?
You cannot claim the cost of getting your tax done in the same year you put the tax in as the cost is in a different year.
real pros ring they accountant up in june and pay in advance.
during Covid locked down I am unable to claim it
If you wfh you could claim a 80c/hr rebate.
If you are not asking about that, sorry I don’t there is an expense call “covid locked down”.
If you wfh you could claim a 80c/hr rebate.
Then you can't claim work related expenses etc…
I submitted my tax return late a couple of years ago and it was processed within 2 weeks just as normal - no questions or anything. However, the ATO owed me money so I think they don't mind it when this happens. If you owe them then expect to pay interest in the very least.
Thank you all for sharing your advice.
hmmmm
my head has been stuck in an infinite loop since 5:32 am
cant_claim_with_tax_agent=TRUE
attempt_to_claim_wth_tax_agent=cant_claim_with_tax_agent
while (attempt_to_claim_wth_tax_agent)
{
/* attempt to claim with tax agent*/
attempt_to_claim_wth_tax_agent=cant_claim_with_tax_agent
if rand(1,1000) = 972
{
post_oz_bargain()
}
sleep(900)
}I just tried that and got a compilation error…
Have you tried looking for the answer on the ATO website?