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18 Sep 2018

Australia Taxation Office: Tax Myths

The tax return deadline for the 2018 financial year is Wednesday, 31 October 2018 unless you are lodging through an Accountant, tax professional.

Australian law permits the ATO to apply penalties for the following offences:

  • Failing to lodge a return or statement on time will range from $210 to $1,050 for 113 plus days past deadline.
  • Making a false or misleading statement.
  • Failing to meet tax obligations will incur general interest charge.

To help, we have attached the Top 10 tax myths as listed by the ATO that cause incorrect claims and result in penalties being applied.

Click to read.

The smart thing, pay for professional services and avoid the risk of defrauding the Commonwealth.


At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.

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