Tax Season

Do I need to lodge a tax return? 0

Do I need to lodge a tax return?

At the end of every financial year, the ATO requires all TFN holders to lodge either a tax return non-lodgement advice If the ATO does not receive either one of these from you, then you may receive a reminder letter and possibly a fine from them. (If you have already notified that ATO that you’ve lodged a final tax return, then neither of the above will be necessary) General reasons that you would need to lodge a tax return: Tax was withheld from a payment you received, such as wages, interest, or dividends. Your assessable income exceeded the tax free threshold of $18,200 You received a fringe benefit You received a reportable employer super contribution You carried on a business You received a distribution from a trust You had a capital gain event You paid Pay As You Go Instalments and you wish to recover those instalments You were under 18 years old and received dividends, interest, or trust distributions exceeding $416 You were 60 years old or older and you received an Australian superannuation lump sum payment that included an untaxed element You made personal contributions to a complying superannuation fund or retirement savings account and will be eligible to receive a super contribution for those contributions You received...

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