Did you know that most individuals and entities do not have to lodge their tax return until 15th May of the year following the end of the finacial year? Many taxpayers think that all tax returns have to be lodged by 31 October, this is correct if you choose to lodge via E-tax or by paper with the tax pack form. If you lodge via a tax agent the tax return due date is in most cases 15th May, it just depends if you have lodged in time the previous year or what type of entity has to lodge the return. It is often a good idea to have your tax return prepared as soon as possible so you know if you are expecting a tax refund or have to pay tax. If you have a tax liability you can then delay lodgement until 15 May, that way you can hang onto your money a bit longer!
Give us a call if you would like to discuss your personal tax situation!