CPA Australia is urging Australians to lodge their tax returns by the October 31 deadline, warning of potential penalties for late lodgement and cautioning against rushing, which could lead to errors.
Individuals lodging their own returns must do so by October 31, while those using tax agents have more time if registered with the agent by month-end. CPA advises seeking professional help for complex finances and warns against copying previous years’ deductions without review.
“There’s nothing ghoulish about the tax man — but failing to lodge your tax return on time could ultimately mean a scary penalty,” CPA Australia tax lead Jenny Wong said.
“Rushing to lodge can also result in more tricks than treats, as scammers will target people with last-minute calls to action, or promises of substantial refunds.
“Be very wary of anyone offering unsolicited, last-minute help to file your tax returns, especially if the offer or promise of returns sounds too good to be true.”