06 Feb 077 New approach to lodgment deferrals for tax agentsThe ATO has advised that if you are a tax agent and wish to apply for additional time to lodge your clients' income tax returns, monthly and quarterly activity statements, FBT returns, PAYG withholding annual reports and/or annual GST returns and information reports, you may be entitled to use either the new:
- self assessment of lodgment deferral form (subject to a number of conditions, lodgment deferrals will now be automatically granted on written application to the Tax Office; however, the ATO will not grant automatic deferrals for income tax returns for large corporates due 15 January - these requests will still be considered on a case-by-case basis); or
- one-for-one / like-for-like form (this option is designed to recognise the effort required by tax agents to bring taxpayers with outstanding lodgments back into the system and the impact this may have on your practice; if you are in this situation, you may be entitled to request a two week deferral for impacted, up-to-date clients on the basis of one-for-one or like-for-like).
You are not able to use these forms to request additional time to lodge quarterly or annual instalment notices (Forms N, R, S and T).
To find out more about whether you can apply for lodgment extensions under this new approach, which form to use, the conditions that must be satisfied, as well as access to copies of these application forms go here