The 2015 Tax Return Deadline is 31 October 2015
Failure to lodge on time penalty is calculated at the rate of one penalty unit for each period of 28 days or part thereof that the document is overdue, up to a maximum of five penalty units. The value of one penalty unit increased on 31 July 2015 to $180 per unit.
If you don’t lodge your return before the ATO’s tax deadline of 31 October 2015, you could face financial penalties and even interest charges from the ATO.
This table shows typical fines the ATO can impose on you for lodging after the tax deadline:
|Days Past Deadline||Late Lodgement Penalty|
|1 – 28 days||$180|
|29 – 56 days||$360|
|57 – 84 days||$540|
|85 – 112 days||$720|
General Interest Charge
Interest can also be charged on any amount owing to the ATO after 31 October at a rate of 11.86% per annum.
“How do I get a 2015 tax deadline extension?”
Depending on your tax history, you may be granted an extension which will allow you to lodge after the 2015 tax deadline. The length of extension will generally vary from person to person.
To be eligible for a tax deadline extension, you must be registered with a tax agent like Ample Finance, and you must do that before the 31 October 2015 tax deadline.