The final date for lodging income tax returns is specified by the Commissioner via Legislative Instrument. The due date for lodgment of returns for individuals, partnerships and trusts is generally 31 October. Where, however, the taxpayer is permitted to adopt a substituted accounting period, the return will not be due until four months after the close of the substituted accounting period. An income tax return is not treated as duly lodged until received.
Under the tax agent lodgment program, there are special extension of time arrangements for individual, partnership and trust returns lodged through tax agents. For the applicable lodgment dates and the various qualifications thereto, see the Lodgment Program on the ATO website at www.ato.gov.au.
Lodgment of returns by full self-assessment taxpayers (ie companies, superannuation funds, ADFs and PSTs) is currently as follows:
- companies and superannuation funds with returns two or more years outstanding — 31 October
- large/medium taxpayers (ie companies, superannuation funds, partnerships and trusts that have an annual income greater than $10m or investment of more than $50m, and all non-complying superannuation funds and PSTs) — 15 January, and
- all other companies and superannuation funds (including those which are new registrations) — 28 February.
Special, further or fuller returns must be lodged within the period prescribed by the Commissioner when he calls for them.
The Commissioner may grant a taxpayer an extension of time to lodge a return. A person who fails to lodge an annual or other return by the due date is liable to be prosecuted and/or to pay late lodgment penalties.
View the complete calendar of key tax dates in the 62nd Edition of the Australian Master Tax Guide.