Time is fast running out for people who may be eligible for the tax bonus payment to lodge their 2007–08 tax return.
More than 8.4 million tax bonus payments worth $7.3 billion have already been made by the ATO. It’s estimated that there could be another 280,000 people yet to lodge who could be eligible. Tax Commissioner Michael D’Ascenzo has reminded taxpayers that if they do not lodge their return by 30 June 2009, they will miss out on the payment.
Of the 2.2 million tax returns already lodged since the bonus was announced, 318,000 were earlier year returns (almost 2000 people lodged 9 or more years of returns). With less than 2 weeks to lodge before the bonus deadline, it is time to act now…. especially if you have multiple years to prepare. Taxpayers preparing their own return will have to rely on the paper TaxPack 2008 as E-Tax for 2008 is no longer available. You can download a copy of TaxPack from the Tax Office website at www.ato.gov.au.
If you’ll be using a tax agent to prepare your return for you, contact them asap to ensure your work can be complete before time runs out.
Article by Christie Lewis
Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.
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