Trust Tax Return
- Minimise Your Tax Liability
- Expert Tax Agents
- Avoid late Payment Penalty
Save time and effort by relying on our streamlined process, ensuring a seamless experience from start to finish.
Late-lodgement and Other ATO penalties
Failure to Lodge (FTL)
The FTL is typically up to $900 on each late return / activity statements for individuals and small businesses, and $4,500 for large businesses.
Misclassification of Trust Distributions
Potential penalties ranges from 20 to 60 Penalty units. Cost per penalty unit is $313.
The amount of late lodgment penalty payable is $10 for each week or part of a week occurring after the due date and before the tax return is lodged. The maximum penalty is $200
Failure to Notify (FTN)
The FTN penalty is calculated at a rate of 8 per cent per annum of the amount not notified
How to Avoid Trust Tax Return Penalties
Accurate and Complete Reporting
Maintain detailed records and reconcile financial statements with the tax return.
Comply with Lodgment Deadlines
Stay organised, plan ahead, and be aware of specific due dates. Set reminders or engage a tax professional to ensure timely lodgment
Maintain Adequate Record-Keeping
Utilise appropriate accounting systems and software for efficient record-keeping.
Seek Professional Guidance
Benefit from their guidance to ensure compliance and maximise tax benefits.
Simplify Your Trust Tax Return
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