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When is the due date for lodging the tax returns?

Monday, 18 July 2011

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Due date for your 2011 income tax return varies depending on your status.

The main difference in the due date is dependent on whether you are lodging it yourself or lodging it through a tax agent.

If you lodge it yourself, you have up to 31 October 2011 to lodge the tax return with the ATO (Australian Taxation Office).

If you lodge it through a tax agent, you don't need to lodge the tax return by 31 October 2011. However, you need to be registered with a tax agent (like here at AccXite) before 31 October 2011. Once you register with a tax agent, you may get as late as June 2012 to lodge your tax return and pay any liabilities (if any). The earliest day for your lodgement will be 15 January 2012. Your tax agent will be able to tell you exactly when your tax return will be due for lodgement.

It should be noted that the due date is only one of many considerations to lodge the tax return at a certain time. There are other issues that you need to consider as well. If you are up for a refund, you will want to get it as soon as possible. You might also want to lodge your tax return sooner due to bank requirements, family settlements, centrelink purposes, or just to be tidy. However, if you need to pay tax liability the later you lodge (still within due date) is better as it helps you with your cashflow. That's when in terms of timing, lodging through a tax agent pays off.

More information on AccXite's tax compliance services can be found here.