Australians who have yet to lodge their tax return must do so in the next 25 days or risk penalties exceeding $1500.
The deadline for individuals to lodge their own tax return is Friday, October 31, 2025.
For the 2024-2025 fiscal year, around 15 million tax returns will be filed, with 6.4 million already processed by the end of August, as reported by the Australian Taxation Office (ATO).
However, numerous returns are yet to be submitted, and missing the deadline at the end of the month could result in a failure to lodge (FTL) penalty.
The penalty starts at $330, then increases by $330 for every 28-day period (or part thereof) that your return is overdue.
The penalty caps out at $1650 for individuals.
The ATO takes individual circumstances into account when deciding on late filing actions and generally refrains from imposing penalties for isolated instances.
The ATO will also typically warn you by phone or in writing before applying FTL penalties.
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If you are liable for a penalty, the ATO will notify you in writing.
The notice will include the reason for the penalty, the amount of the penalty, and the due date for payment.
If you incur a fine due to unavoidable reasons such as illness or natural disasters, you can request a waiver of penalties.
The ATO may choose to reduce the penalty in part or in full, depending on the circumstances.
Aussies who fail to lodge their tax return on time may also incur a general interest charge (GIC) on their late lodgement and any unpaid penalties.
The current GIC rate is 10.61 per cent annually or 0.02906849 per cent per day, and is calculated on a daily compounding basis on the amount overdue.
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In short, the best way to avoid paying any penalties on your tax return is to make sure you lodge it before October 31.
The only way to potentially get around that deadline is by engaging a tax agent.
Most registered tax agents can lodge returns well past the October 31 deadline, often even into 2026.
But you must appoint your tax agent and ensure you’re on their books before October 31 to avoid penalties.
“Failing to file a tax return or enlist a tax agent by the deadline could lead to late lodgement fees,” explained Susan Franks, a tax expert with Chartered Accountants Australia and New Zealand (CA ANZ), to 9news.
The information here is general and not tailored as personal financial advice. It has been prepared without considering your personal goals, financial situation, or needs. Before acting on any website information, you should assess its suitability based on your objectives, financial circumstances, and requirements.
