Australians planning to file their own tax returns this year have only two weeks left before the deadline, with the Australian Taxation Office (ATO) warning of potential penalties for late submissions. As of September 22, the ATO had received more than 7.9 million individual tax returns for the 2024 financial year. Of these, approximately 3.8 million were submitted through registered tax agents, while over 4 million were filed by taxpayers themselves.

Final Call for Tax Return Submissions

Assistant Commissioner Rob Thomson of the ATO has urged anyone who has yet to complete their tax return to either file it themselves or seek the help of a registered agent to avoid late penalties. He stated, “If you’re lodging your own tax return, the deadline for submission is October 31. If you’re using a tax agent, you must be registered with them before that date.”

Thomson also emphasized the importance of ensuring that tax agents are registered, which can be verified through the Tax Practitioners Board’s public register.

Penalties for Late Submission

Individuals who miss the deadline could face fines of $313 for every 28 days the return is late, with a maximum penalty of $1,565. Thomson encouraged taxpayers facing difficulties meeting their “tax obligations” to contact the ATO for assistance.

“For taxpayers with simple tax affairs, lodging online via myTax is easy, as most of the information you need is pre-filled,” Thomson explained. “You just need to check your details, add any additional income, and claim the deductions you’re entitled to.”

Tips for Filing Correctly

For those with more complex tax matters, Thomson recommended considering the services of a registered tax agent. He also advised taxpayers to ensure their work-related expenses are accurate and not simply “copied and pasted” from previous years. “If your circumstances have changed, your deductions will change too. We often see people change jobs but not adjust their claims accordingly,” he said.

Thomson added, “The job you do affects the deductions you can claim, which is why we have a series of 40 occupation- and industry-specific guides to help you.” He stressed the importance of claiming the correct deductions the first time—”not more, not less.”

Payment Due Dates

For most taxpayers, the due date for paying any tax owed to the government remains the same regardless of when the return is lodged. For self-lodged returns, this means that any money owed must be paid by November 21. Those using a tax agent may have a later due date.

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