In recent years, the ATO has implemented a new system of ensuring lodgement. Basically, if your tax return is overdue and you have not lodged it, they will lodge an estimate for you, this is called a default notice of assessment.  This does not sound that bad - right? W-R-O-N-G !!!  We meet many successful individuals and business owners that just let their tax matters slip off their radar and then it just becomes a bigger task than it needs to be and they end up avoiding the stress of dealing with it.

A default notice of assessment generally carries significant late lodgement penalties and getting these overturned can be a nightmare.  We have seen cases where the penalty is the same as the tax, which is pretty much DOUBLE TAX!  This is a situation best avoided and the easy way to do this is to ensure your lodgements are up to date.

Our team is here to help, and we always work with our clients to find quick, easy, and cost-effective solutions to get the job done and get the best result.

The ATO has more news on these dreaded default assessments on their webpage.

So, if you have overdue tax returns, the trick is to ACT NOW - just send us an email on info@Primarius.net.au or contact us at our office - just click here for more information and our office details.