Do I need to lodge a tax return?
So, you may be wondering “do I need to lodge a tax return?” We explore who is required to lodge a tax return in more detail.
A Tax Return is a form on which a taxpayer makes an annual statement of income which needs to be lodged by certain taxpayers. The completed Tax Return is then used by the Australian Taxation Office to determine how much tax the individual is liable to pay.
So, you may be wondering “do I need to lodge a tax return?” We explore who is required to lodge a tax return in more detail below.
Whether you need to lodge a tax return can change from year to year, so it is important to check with an Accountant about your liability each year to avoid legal problems and potential fines. You may not be aware but not everyone is required to lodge a tax return; you are required to lodge if:
If you are still unsure whether you need to lodge a Tax Return or not, contact an expert specialist at ITP Queensland. Our team of qualified tax specialists have been serving Australia with tax advice and guidance for over 40 years.
Don’t leave something as important as your Tax Return to chance, as doing so could cause serious problems for yourself. Don’t hesitate and contact us today or call 1300 555 773.