Tax Blogs

Old Returns | Gotax

May 9, 2023

Taxpayer whacked with considerable penalty.

The Tax Office had made many requests for a TaxPayer to lodge their Income Tax Return for the 2017 Income Year.  

Finally, the taxpayer ended up lodging their Income Tax Return and had an amount payable of $6,658.  This was not disputed, and probably the reason the taxpayer put off lodging his income tax return.

Now get this, the Tax Office assessed penalties equal to 75% of the amount payable, being $4,993.  That's a hell of a slap in the face.

The Taxpayer then objected to the severity of the tax penalty, in which, the tax office lowered the penalty from 75% to 25% now $1664.

The Taxpayer sought a review of the decision through the AAT (Administrative Appeals Tribunal). 

The Taxpayer was unsuccessful and the penalty stood.

Moral of the story...  get your Income Tax Returns in on time, whether you have a refund or a payable.

Lodge with GoTax, it's easy and your obligations are dealt with promptly.

And don't forget to download our great GoTax App.  Keep track of your expenses so you can maximise your refund.  Just scan the QR code.

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Get your Tax Return started now ... gotax.com.au 






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