Tax return deadline: When is my tax return due?

When is the tax return deadline?

The tax return deadline if you’re lodging your tax return yourself is October 31, 2024 (read our comparison on lodging yourself versus using a tax agent).

But if you lodge your tax return through a registered tax agent, you'll get some extra time. Tax agents have a special facility with the ATO that allows them to lodge a return on your behalf after the October 31 deadline. But you need to be registered with a tax agent by October 31 to take advantage of this extended deadline.

If you haven't yet registered with a tax agent and you've missed the deadline, make an appointment to lodge your return anyway – it's better to lodge it late than to not lodge it at all.

While the deadline for lodging through a tax agent varies depending on your personal circumstances, you potentially have until mid-May the following year to lodge your return – an extension of more than six months when compared to the normal deadline.

Finder survey: How do Australians file their taxes at different ages?

Who sets the tax return deadline?

The income tax return deadline is set by the ATO. As the Australian Government’s principal revenue collection agency, it’s the ATO’s job to collect tax from all income-earning Australians. The deadline is in place to ensure that all taxpayers pay the money they owe the government in a timely fashion, and that you receive any refund you may be entitled to.

Possible reasons for missing the tax return deadline

There are several reasons why you might have missed the ATO’s tax return deadline, such as:

• You were travelling overseas and didn’t submit your return in time
• You didn’t realise you needed to file a tax return until it was too late
• You forgot to file your return in time
• You were worried you would be burdened with a tax debt that you’d be unable to afford
• You failed to lodge because you were suffering from a serious illness
• You failed to lodge due to a natural disaster
• You failed to lodge due to a family breakdown

What to do if you miss the deadline

If the deadline has passed and you haven’t filed your return, the best thing you can do is lodge your return with the ATO as soon as possible. A tax agents can help you lodge any late tax returns you have. Unless there are extenuating circumstances, you may be hit with a late lodgement penalty – and this penalty increases the longer you wait to submit your return.

The good news is that, if you have a good history of lodging your returns and paying any ATO debts on time, you may be able to avoid the late lodgment penalty. However, you will need to have a good reason for missing the deadline, and the sooner after the deadline you lodge your return the better.

Expert insight: Why your tax return actually helps you

"Most people earning an income in Australia will need to lodge a tax return, and while this comes with some administration work, it also comes with an opportunity. When you use the rules to your advantage, you'll keep more of your hard-earned income and get ahead faster. Like anything worthwhile, tax planning is a skill set you build over time, and building your knowledge is the first step. "

Ben Nash

Financial adviser & founder, Pivot Wealth

What penalties apply if you miss the tax return deadline?

If you fail to lodge a return or statement with the ATO on time, you may need to pay a failure to lodge (FTL) penalty. For individuals, the FTL penalty is calculated at the rate of one penalty unit for each period of 28 days (or part thereof) that your return is overdue, up to a maximum of 5 penalty units. This fine is calculated at the rate of one penalty unit for each period of 28 days or part thereof that the document is overdue, up to a maximum of five penalty units.

The value of a penalty unit is currently $330 (from 1 July 2024) per 28 day period.

So if you’re late lodging your return for the 2023-24 financial year, the following fees could apply:

• If your return is up to 28 days late: $330 fine
• If your return is 29-56 days late: $660 fine
• If your return is 57-84 days late: $990 fine
• If your return is 85-112 days late: $1,320 fine
• If your return is more than 112 days late: $1,650

If you’ve failed to lodge your return in time, the ATO will notify you in writing or over the phone. The ATO also doesn’t generally apply penalties in isolated cases of late lodgement, and will take your personal circumstances and history of compliance into account before deciding on the best course of action.

In addition, if you lodge your return after the deadline and incur a debt, the ATO will charge you interest on that debt from the date it was due until you end up paying it. The general interest charge (GIC) rate that applies to unpaid tax liabilities is reviewed quarterly, and currently sits at around 11%.

Frequently asked questions about the tax return deadline

• How can I lodge a tax return?

  You can lodge a return in three ways:

  • Online using the MyTax service
  • Through a registered tax agent
  • By completing and submitting a paper tax return by post

• What if the deadline falls on a weekend or public holiday?

  If this happens, you can lodge your return on the next business day.

• What date do I need to receive my group certificate from my employer?

  Your employer needs to supply what was previously known as a group certificate, officially called a payment summary, by July 14 each year.

• What information is contained in a payment summary?

  The payment summary shows the payments your employer has made to you, and the tax amounts it has withheld from those payments throughout the financial year.

  Contact the ATO as soon as possible – it has a range of payment options available to help. If you’re in “serious hardship”, the ATO may be able to release you from some or all of your debt.

• How can I calculate how much tax I need to pay?

  Finder.com.au’s range of tax calculators can help you work out your tax refund or liability.

Written by

Sarah Megginson

Head of editorial

As an authority on all things personal finance, Sarah Megginson is passionate about helping you save money and make money. She is an editor and money expert with 20 years’ experience and an extensive background in property and finance journalism. Sarah holds ASIC RG146-compliant Tier 1 Generic Knowledge certification, and she's a regular media commentator, appearing weekly on TV (Sunrise, Channel 7 news, Nine news), radio (KIIS FM, Triple M, 3AW, 2GB, 6PR) and in digital and print media. See full bio

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Co-written by

Alison Banney

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise

Alison has written 625 Finder guides across topics including:

• Superannuation
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