An attempt to inspire those in need of relief from unlodged tax returns
Don’t you hate having an unmet obligation hanging over your head?You think of it as you lie in bed at night, struggling to switch off and get to sleep. Each weekend you can never fully relax as you wrestle with the constant voice in your head “I really should get that done”. For many, without them even knowing it, the worry can ultimately manifest as high blood pressure and other health issues.There was a time, especially in the early days of my business, I had many such obligations weighing me down. And while it wasn’t easy fixing the situation, for the most part I have relieved myself of these concerns and my business, my health and my life is much better for it!
tax returns don’t have to be a cause for concern
In my experience, unlodged tax returns is one of those things that weighs heavily for a lot of people. And because there is the fear of a tax bill, late lodgement penalties, late payment interest plus other potential consequences, an unlodged tax return can create a substantial amount of stress.But they don’t need to be and frankly shouldn’t be.There are processes we can help you put in place to make the entire tax process much less work and much easier to get done and out of the way quicker.But before we can make changes for the future, we need to ensure you are up to date!
the last day for lodging most 2015 unlodged tax returns is 15 May
We are just three weeks away from this due date! Admittedly that is not a lot of time. But don’t despair!If you genuinely make the decision you want us to help get you back on track and you bite the bullet (perhaps this long weekend) and get started, we probably can still help you meet your obligations and avoid getting a bad record, and an extra debt, with the ATO.We have processes in place that if the information we need is supplied over the next week or so, we can probably finish our work in time.If we can’t get the work done in time, but we have at least made a start and know things are progressing, we do have a couple potential tricks up our sleeves …
- Firstly, 15 May falls on a Sunday this year, so the actual due date automatically becomes 16 May. Sure its only one day, but it could make all the difference.
- Next, as we (CapitalQ) have a good Agent lodgement record with the ATO (because given half a chance by our Clients, we always meet our deadlines), we are able to access an extension for many returns (sorry, not company returns). So if we can commit that at worst the return will be lodged by the 5th of June (and any tax due will be paid by the same day) the ATO will treat the lodgement as having been made on time (even though obviously it wasn’t).
- Lastly, if that date is missed, the return will be considered late, and the tax due will have interest calculated going back to May 15, but, if it is at least lodged before 30 June, then your next year’s return will remain eligible for our Tax Agent Lodgement Program. If this deadline of last resort is also missed, then your next year’s return becomes due some seven (7) months earlier than it otherwise would! And that means there is a real chance your affairs are going to start to spiral out of control.
let’s get the monkey off your back
So please, let us help get the monkey off your back (and help get you sleeping better). Gather together as much of your information and documentation as you can (our Checklists available here will help remind you what we will need) and get in touch, and we will get straight to work!