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3 Tax returns in 1

Discussion in 'The Pub' started by wang chung, Jul 4, 2007.

  1. So.. i haven't done my tax returns in the last 2 years.. this one coming up will make it number 3, Will i be swimming in cash or crying cause i will get fines?

    Worked full time for the last 2 years, this year been working casual full time hours pretty much.


  2. If you are due a refund you should be fine.
  3. awesome...

    Cause a few people have been telling me I'm going to get fined.
    But the Tax department actually owe me money
  4. Yeah you only get (extra) reamed if you actually owe any money (either on any year or as a WHOLE total, I am going with the "on any year" there is money owed on your part that the ATO will fine you.

    It's probably best to call them and ask, might be a LOT less "noise" to wade/filter through from wrong/misinformation posts ;) My ex housemate owes 6 to 7 years of tax stuff to do, I actually think he has never filled in a tax return(or give back ;) ) form(s)... BIG SHOCK if any/all are in the red, then it's :LOL: to an instant :shock: I think when final totals are seen. And he realises it's a debit, not credit :wink:
  5. No, the tax department now can happily fine you 550 a year per year overdue per return..... regardless if you owe them money or not.

    And if you owe them money they will charge interest at legbreakers rates too...
  6. & I know what thats like as well. Took me ages to pay it all off.

    Tax return online at $30 odd bucks
    & you can review your refund or bill before submitting.
  7. Wow.. From stuff I read in the past 2-3 years, it was different?? Unless that was a less than obvious "loophole" they could get you with unless it's a (semi) new law that's been brought in sometime recently?

    Cheers for that info (any links?), I'll look for it myself unless I fall back to sleep, just got woken up from emma on her way to work after a few hours of "siting up in bed" sleep. I ate some mogadon (sleeping tablets) last night as I've had a VERY VERY rough week (mental and physical pain) and "I was shaking" for a while so I ate the tablets and Emma found me, sitting up in bed, laptop turned on sitting on m lap and me asleep "somehow" :oops: :LOL: :LOL: I guess the sleeping tablets worked ;)
  8. Of course they can, but for PAYG earners, they aren't fussed if you are owed money.
  9. 3 years, try 8! No fine and they paid me back all the money they owed me. Just get a tax agent to do the paperwork, they will charge you 3 x time the rate but you get that back next year. mate don't stress. :grin:
  10. +1 to Matti-san

    I did the same thing last year, lodged 3 tax returns at once, had to do it with an agent.

    ATO has bigger fish to fry than sh!tkickers like us! It wouldn't be worth the time invested, unless you were just really really unlucky.
  11. It's even better Matti, lets assume you haven't done your 2005, 06 & 07 returns.

    The agent does your 05 return now and charges you his fee.

    He then claims it back for you when he does your 06 return and charges you a fee for that return.

    Then he does your current 07 return and claims the 06 fee so although you pay x3 the tax office give you back two of them with your refund :)
  12. Yeah they explained to me that I could claim it back in the return for the year I spent it, so had to wait for next fin year return.
  13. You only get back the tax amount you paid on the tax agents fee, not the whole fee. Still worth it if you have more than 1 years to do.

    And the ATO have always been able to fine you for late returns even if they owe you money, but it very rarely happens. Like PP said, they have bigger fish to fry.
  14. I was on the phone to the tax office the other day to get my tax file number. I thought I'd get some info about handing my tax returns because it had been several years. After some checking we found out my last tax return was done in 1997!

    They're going to send me the last 7 years worth of tax packs, plus a few more which I'll change the dates for the previous years.

    I also need to chase up some group certificate and do some statutory declarations for the companies that are no longer in business, guesstimating the amount of money I got paid.

    Since there's been a few years where I didn't work full time all the way through, I should get some nice returns, which will probably get mostly eaten up from the fines.