Menu


Tax Facts - Tax Payer Penalties

Taxpayers who do not meet their tax obligations may face penalty 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

If a taxpayer is audited and an amended assessment is raised, further penalties of up to 75% of the additional tax levied may be applied, depending on the severity of the offence. Examples include making a false or misleading statement, not taking reasonable care, or taking a position that is not reasonably arguable in a tax return or other document.

"seen as a very important part of our organisations future. The level of service is well above what would be considered the norm"

Dale Sumner - General Manager of Lakes Entrance Fishermens Co-op & Leftrade Limited

"They provide us with well-researched financial and business advice, take care of all our tax responsibilities and financial needs, and even check in from time to time to see how we’re going"

Jessie Ballantyne- Director of The Grants Hub

"They have taken the time to get to know us as a business, and go above and beyond in helping us grow."

Jessie Ballantyne - The Grants Hub