On 17 April 2024, the Australian Taxation Office (ATO) declared a concession for tax returns which will conclude on 15 May 2024. This concession allows individual, partnership and trust tax returns to be lodged by 5 June 2024 without penalties, provided that any payments required are also made by this date. For companies and super funds (excluding large and medium taxpayers and head companies of consolidated groups), the concession applies where both the prior year and the current year return will be non-taxable or result in a refund. Lodgments made by this date will be considered as on time under the lodgment program framework. Taxpayers aren’t required to apply for a lodgment deferral to receive the 5 June 2024 concession date. if there is a need for additional time to lodge tax returns beyond 5 June 2024 due to exceptional or unforeseen circumstances, ATO said clients need to apply for a lodgment deferral.
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