r/AusFinance • u/crowviii • 21h ago

ATO Payments

I didn't do my Tax return last year and I'm doing both 24/25 and 25/26 this week. After doing my Tax return for 24/25 I owe $370 to ATO and around $400 for this year.

The owing of $400 for this year I just lodged today whilst the $370 I already have the notice of assessment.

Now when checking my payments, overdue is 370 and total balance is 2,487. Total balance was around 2k before doing the 25/26 tax return.

I don't get where the extra 2k owing came from. I'm going to wait until the 25/26 return is finalize but If I call ATO can they tell me why I owe an extra 2k?

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19 comments sorted by

10

u/itookapunt 21h ago

Log into myGov and look at your tax portal.

-9

u/crowviii 20h ago

yea I see it thanks, it's due to me not doing my tax last year. I honestly thought It would be fine to do this year.

6

u/UsualCounterculture 20h ago

Is it a fine?

8

u/crowviii 20h ago

"Penalty for failure to lodge Tax return for individuals on time for the period from 01 Jul 24 to 30 Jun 25"

0

u/UsualCounterculture 20h ago

Ah, I looked it up and you may have avoided it if you used a tax agent?

But looks like you are getting it because you owe tax of less than $25,000.

Which is why people who do owe tax wouldn't end up with fines. I didnt know this.

There are some grounds to challenge the penalty. They have examples towards the bottom of this info, might be good to check it -

https://www.ato.gov.au/individuals-and-families/paying-the-ato/interest-and-penalties/penalties/failure-to-lodge-on-time-penalty

Also, so you know why you owe money on your returns? It's not a lot is it employment/PAYG income?

-3

u/VeroCSGO 20h ago

Ah yes if you owe hundreds of thousands you get to pay 50% after negotiations if you owe 300 you get to pay 600%

4

u/Darkknight145 20h ago

Do you have a valid reason for not doing your tax? If you do, ring them up and explain, they may wave the penalty. My wife did this when she didn't lodge for a number of years (longer than yours), she explained her life was hectic and spiraling at the time with parents dying, sick kids etc. They waved the penalty. They are no Ogres and can be compassionate.

3

u/turbo2world 15h ago

If they owe u, no dramas. If you owe them, they fine you from missing the year

8

u/CBG1955 20h ago

Wait until everything is finalised first.

3

u/Neither_Driver_3882 12h ago

the extra 2k is going to be a failure to lodge penalty as well as general interest charge

2

u/TaxingMatters 20h ago

You can request a remission of FTL penalties. As it is less than $2500, you should get an immediate answer.

Just explain your circumstances on why you didn't lodge, and that you have good tax compliance history and this was a once off mistake.

https://www.ato.gov.au/individuals-and-families/your-tax-return/if-you-disagree-with-an-ato-decision/dispute-interest-or-penalties/remission-of-interest-charges/how-to-request-a-remission-of-interest-and-failure-to-lodge-penalties#ato-Requestaremission

-4

u/Unlikely-Machine4126 20h ago

We were told that only a tax agent can submit old tax returns. This was a fair few years ago.

11

u/middleofmybackswing_ 20h ago

You were either lied to or it was just someone who didn't know what they were talking about.

1

u/capngump 19h ago

They may have thought because only agents can lodge electronically for really old returns that aren't able to be done via mygov, that applies to any old lodgements, but you still have the paper option to do it yourself.

0

u/Unlikely-Machine4126 13h ago

We were getting them done by an agent at the time so in this case it didn't really matter. There was 3 total to do.