The Australian Taxation Office (ATO) is reminding taxpayers that the due date for individuals who lodge their own income tax return (31 October 2024) is fast approaching.
As of 22 September, the ATO had received over 7.9 million income tax returns from individuals for the 2024 financial year. Over 4 million individuals self-lodged their income tax return, while 3.8 million chose to use a registered tax agent.
ATO Assistant Commissioner Rob Thomson has urged those who are yet to finalise their tax returns or engage with a registered tax agent to act now to avoid potential late lodgment penalties.
'If you're lodging your own tax return, the due date to lodge is 31 October 2024. If you're using a tax agent, you need to be on their books before then. You need to ensure they are a registered tax agent which you can check by searching the Tax Practitioners Board's Public Register at tpb.gov.au,' said Mr Thomson.
It is important taxpayers are aware there can be penalties for lodging a tax return late.
