Due to the problems that the Australian Taxation Office (ATO) has had with its systems and the issues that this has caused with Accounting and Taxation Practices the ATO have advised that they will not impose Failure to Lodge Penalties (FTL) for certain tax compliance documents.

FTL Penalties will not be imposed for tax returns and all activity statements due to be lodged from December 2016 to the end of August 2017, as long as the lodgement is received by 31 August 2017.

These include:
1.    2016 income tax returns.

2.    Monthly Activity Statements for the months from November 2016 to July 2017.

3.    PAYG Instalment Activity Statements for the quarters ended December 2016 and March 2017.

4.    Activity Statements for the quarters ended December 2016 and March 2017.

The ATO has advised that if any penalties have been imposed they will remit them and there is no requirement for clients or their advisors to contact them.  The ATO will advise when it has completed remitting all applicable penalties.

If you would like to discuss further please contact us:
McNamara and Co - Chartered Accountants, located minutes from the Melbourne CBD
www.mcnamaraandcompany.com.au/contact-us
Phone +61 3 9428 1062
Email admin@mcnamaraandco.com

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