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 arenβt 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.
Related Posts
Australia: ATO issues guidance on Pillar Two account, role creation
The Australian Taxation Office (ATO) has published guidance on Pillar Two account and role creation on 19 May 2026. In March, the ATO published information about how MNE groups and their advisers could prepare for Pillar Two (global and domestic
Read MoreCroatia ratifies income tax treaty with Australia
Croatia has gazetted the law ratifying the income tax treaty with Australia on 15 May 2026. Signed on 24 November 2025, the agreement between the two countries is intended to eliminate double taxation on income and to prevent tax evasion and
Read MoreAustralia: ATO announces first public CbC report deadlineΒ
The Australian Taxation Office (ATO) has issued a notice on 15 May 2026, reminding entities with a reporting period ending on 30 June 2025 that the deadline for lodging the public CbC report is 30 June 2026. The ATO is continually updating its
Read MoreAustralia: ATO highlights areas of concern in R&D tax incentive claims
The Australian Taxation Office (ATO) has issued a notice to advisers and taxpayers on 14 May 2026 outlining its key areas of concern regarding research and development (R&D) tax incentive claims. The ATO has also updated its guidance on ensuring
Read MoreAustralia, Canada tax treaty negotiations set to begin
Canadaβs Department of Finance announced on 12 May 2026 that discussions will begin next month to modernise the income tax agreement between Canada and Australia. The current treaty, originally established in 1980, has been modified twice through
Read MoreAustralia includes major corporate, CGT tax reforms 2026-27 budgetΒ
Australiaβs Treasurer, Jim Chalmers, delivered the 2026-27 federal budget in parliament on 12 May 2026. The 2026-27 budget outlines a comprehensive vision for tax reform in Australia, focusing on supporting workers, incentivising business
Read More