Taxman's October 31 deadline looms, get your return in order
The taxman's clock is ticking.
It’s less than two weeks to go for the October 31 deadline for filing the tax returns and failure to do so may attract penalties.
If you are a property investor, it might be a good time to lodge your tax returns as you can reduce your taxes due to depreciation.
According to the ATO website, the deadline applies to all individuals and trusts where one or more prior year tax returns were outstanding as at June 30, 2016.
If you get your return right, you will likely receive your Notice of Assessment over the next few weeks. If a refund is due, it will come around the same time as the Notice of Assessment.
Article from Property Observer 19th October
For more information on how to minimise your tax through property investing visit us at - Investo Property
Tax Accountant & Advisor | Chief Encouragement Officer
8 年If you have lodged all other returns except 2016, then you can use a tax agent and obtain a later due date. Feel free to comment or connect if you have any further questions. Peter Gordon - Hope to see you at the property expo this weekend.