Tax Payer Penalties

Tax payers who do not meet their tax obligations may face penalties or interest charges. To avoid these charges, ensure you pay the full amount of tax you owe by the due date.

The main charges for failing to meet tax obligations are the:

Additional penalties include failing to:

  • Keep or retain required records
  • Retain or produce required declarations
  • Provide access and reasonable facilities to an authorised tax officer
  • Apply for or cancel GST registration when required
  • Issue a required tax invoice or adjustment note
  • Register as a PAYG withholder when required
  • Lodge a required activity statement electronically
  • Pay a required amount electronically

A streamlined accounts management process and platform can streamline your reporting, compliance and record-keeping. We can help set up your processes and train you and your staff to make the most out of your account management software. Chat with us today to find out how we can help.