Aqualibra Accounting & Taxation in Appin, New South Wales | Tax preparation service

Aqualibra Accounting & Taxation

Locality: Appin, New South Wales

Phone: +61 2 4608 9966

Address: 31 Macquariedale Rd 2560 Appin, NSW, Australia

Website: http://www.aqualibra.biz/

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16.01.2022 Beware of false prophets https://www.accountantsdaily.com.au//14662-federal-court-r

09.01.2022 Warning: $1,110 fine for this tax return mistake. Source: Getty Australians who don’t lodge a tax return in time can face a penalty of up to $1,110, depending on how many days the return is overdue, the Australian Taxation Office (ATO) has revealed. If you earned above $18,201 for the financial year and failed to lodge your tax return, you’ll be charged a penalty unit for each period of 28 days that the document is overdue, for a maximum of five penalty units. ... As of 1 July this year, each penalty unit is $222, meaning the maximum penalty is $1,110 for not lodging your return. We recognise that sometimes people don't meet their lodgment obligations on time, even with the best intentions, the ATO stated. Generally we don't apply penalties in isolated cases of late lodgment. We'll warn you by phone or in writing if you've failed to lodge. If we apply FTL (Failure To Lodge) penalty we'll send you a penalty notice stating the amount and due date of the penalty. The penalty will usually be applied automatically in situations of non-compliance, for example if the ATO requested you lodge and you failed to do so. In serious cases, the ATO can prosecute those who have failed to lodge their tax returns, with the maximum penalty being a fine of $8,500 or imprisonment for up to 12 months. In fact, in 2018 a 65-year-old woman from Geraldton was given a 12-month suspended jail sentence for failing to lodge 91 tax returns and business activity statements. Judith Ahearn’s sentence followed years of warnings and notices, the ATO said, as well as two previous court-imposed fines of $30,000 and $20,000. Despite our repeated attempts to engage with Mrs Ahearn to resolve her outstanding tax returns, she has shown a complete disregard for her basic obligations as a member of the Australian community, ATO assistant commissioner Peter Vujanic said. While we’re disappointed that we have not been able to resolve this matter outside of the court system, we hope that the sentence handed down today sends a message to the community that lodging your tax returns is not optional.

05.01.2022 The ATO has been advertising on media about lodging tax returns by the end of October or fines will apply. If you are registered with a tax agent you have more time to lodge your returns without any penalties. An agent can advise on deductions and other taxation affairs.

03.01.2022 To all our clients, we are still open for business. We wish you all good health. Please make sure that you have an appointment before you come in as we are Covid 19 procedures including practising social distancing.