Taxpayers lodging their annual return and business activity statements late to the ATO are about to face tougher fines, with a 35 per cent increase locked in by the middle of 2023.
An increase to federal government penalty units included in last month’s budget is set to increase fines for late returns, activity statements, fringe benefits and single-touch payroll reports and annual GST returns.
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Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
