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ITP Qld
Individuals
Late & Multi-Year Returns

Late & Multi-Year Returns

At ITP Qld, we understand that life can get busy, and sometimes tax returns can be overlooked or delayed. Whether you're facing a late lodgement or need to catch up on multiple years of tax returns, our experienced team is here to assist you every step of the way.

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Benefits of Lodging with ITP Qld

When you choose ITP Queensland to assist with your late or multi-year returns, you benefit from:

Professional Privileges
We can provide extensions and extra time to get your tax affairs in order
Historical ATO Data
We can access much of your return history and data directly through the government portal, as far back as 2009 (further via contact with the ATO).
Avoid Additional Fees
Doing your tax yourself leaves you wide open for investigation by the ATO, and getting hit with additional penalties and fees for late lodgement.
ATO Representation
Representation in communications with the ATO to resolve any outstanding issues.
Consolidation and Peace of Mind
Alleviate years of stress by preparing multiple years in one single appointment.

Considerations and Tips:

  1. Penalties: The ATO imposes penalties for late lodgement of tax returns. It's essential to lodge as soon as possible to avoid accruing further penalties.
  2. Documentation: Gather all relevant documentation, including income statements, expense receipts, and any other financial records required for accurate lodgement.
  3. ATO Communications: If you've received communications from the ATO regarding outstanding tax returns, it's crucial to take action promptly and seek professional assistance if needed.

Preparation and Lodgement

At ITP Queensland, we offer flexible options for lodging late or multi-year returns:

  • In-Office consultations where our experts will guide you through the process.
  • Virtual appointments for convenience, especially if you're unable to visit our office in person.
  • Online support to answer your questions and assist with document submission.

Next Steps after Lodgement

After lodging your late or multi-year returns, here's what you can expect:

  • Confirmation of lodgement and receipt from the ATO.
  • Processing times vary, but typically, refunds are issued within a few weeks if applicable.
  • Assistance with any ATO audits or inquiries that may arise from your lodgement.

Important Information:

It's crucial to address late or multi-year returns promptly to avoid escalating penalties and maintain compliance with tax obligations. At ITP Queensland, we're committed to helping you navigate these challenges with professionalism and expertise.

Contact ITP Queensland today to discuss your late or multi-year returns and find out how we can assist you in resolving these matters efficiently and effectively.

Frequently Asked Questions

Can I claim refunds for multiple years on overdue tax returns?
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Yes, you may be eligible to claim refunds for overpaid taxes or entitlements from multiple years on overdue tax returns. ITP Queensland can help identify potential refunds, ensure accurate reporting of income and deductions, and maximize your entitlements across the relevant financial years.
What should I do if I have received a reminder or notice from the ATO about late tax returns?
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If you've received a reminder or notice from the ATO regarding late tax returns, it's crucial to address it promptly. Contact ITP Queensland for assistance in understanding the requirements, preparing the necessary documents, and communicating with the ATO to avoid further penalties.
Can ITP Queensland assist with lodging late tax returns?
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Yes, ITP Queensland specialises in assisting clients with late tax returns. Our experienced advisors can help gather necessary information, prepare overdue returns accurately, and liaise with the ATO on your behalf to resolve any outstanding issues.
What are the consequences of not lodging tax returns on time?
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Not lodging tax returns on time can lead to penalties and interest charges imposed by the Australian Taxation Office (ATO). These penalties increase over time, so it's advisable to lodge your overdue returns as soon as possible to minimize additional costs.
How far back can I lodge overdue tax returns?
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Generally, you can lodge tax returns for the previous two financial years and in some cases, even further back if there are legitimate reasons for the delay. It's essential to consult with ITP Queensland to determine your specific situation and requirements.