Most of us need to send our tax returns on the right time. There’s always a deadline that we need to remember, to make sure that we are on time with our tax and that we don’t pay any penalties. Penalties can be really expensive and so unnecessary. Here is everything that you need to know about when to lodge your tax returns and other stuff related to tax returns.
Who needs to file tax returns?
There is no certain age group that needs to file tax returns. Anyone from teenagers who are working to age 70 years, who are working needs to file tax returns. There is an annual amount that everyone needs to get a year, to be eligible to file tax returns.
This means that if you’re getting a salary, you don’t necessarily need to file your taxes. Just if you are earning above a certain amount. If you are earning $18 000 or more for 2014/2015, you need to make sure that you do your taxes. If you do earn more than this amount and you don’t do your taxes, you are going to in trouble when you’re cached out, and you’re going to pay penalties.visit the website here!
When is the deadline for your tax returns 2015?
Everyone should lodge their taxes before October 31, 2015 if you want to file your tax returns on time. There’s no exceptions for anyone. If you earn more than the above amount, you don’t have much time left for filing your taxes.
There are a few methods that you can use to file your tax this year. Most of us, are doing it ourselves. You can do it online at myTax or you can do it through the ATO.
The longer you wait to file your returns, the more penalties you are going to pay. It is really important to make sure that you are filing your taxes before the deadline to prevent any problems.
If you file your tax returns through a registered tax agent, like Online Tax Australia, you don’t need to worry about any deadlines. Then the deadline of October 31, don’t apply to you. And, you don’t need to stress about paying any penalties for late filing.
What happen if you don’t file on time?
If you don’t file your tax returns before October 31, you are going to pay penalties. The penalties can end up a lot of money. Money you might not have, and money wasted.click this updated blog post:http://www.theglobeandmail.com/report-on-business/industry-news/the-law-page/david-copperfields-disappearing-canadian-tax-returns/article27021148/
For every 28 days that you are overdue, you are going to pay an amount like $170. The maximum penalties that you can pay is $850.
When it happens that you are overdue, you don’t need to do it yourself and paying the penalties. If you’re registered with a registered tax agent, you can still file your taxes without paying penalties.
We all hate it when it gets time for filing our taxes. But, the reality is that it isn’t such a bad thing, and you really don’t need to stress so much about it. When you are doing your taxes yourself, you just need to hurry and get it done by October 31. However, if you are registered by a registered tax agent like Www.taxreturnco.com.au, you will not need to stress about filing your tax returns anymore.…Read More