Missing a tax deadline is one of the most avoidable — and most common — mistakes taxpayers make each year. Here’s a clear breakdown of the key dates and what they actually mean for you.
The Standard Self-Lodgement Deadline: 31 October
If you’re lodging your own tax return — through myTax or otherwise, without a registered tax agent — the standard deadline is 31 October each year, covering income earned in the financial year that ended on 30 June. If this date falls on a weekend, the ATO generally allows lodgement on the next business day, but it’s not worth relying on this buffer if you can help it.
The Registered Tax Agent Extension: Up to 15 May the Following Year
This is one of the most under-appreciated benefits of using a registered tax agent: if you’re on your agent’s client list before 31 October, you may be eligible for a considerably extended lodgement date — commonly through to 15 May of the following year — under the ATO’s lodgement program.
The critical condition: you need to be registered with the agent before the standard 31 October deadline. Approaching a tax agent for the first time in November, after the deadline has already passed, generally won’t retroactively grant you this extension for that year.
What Happens If You Miss the Deadline
Missing the lodgement deadline without an approved extension can trigger a Failure to Lodge (FTL) penalty, which is calculated per 28-day period (or part thereof) that your return remains overdue, up to a capped maximum amount. Beyond the penalty itself, unpaid tax can also accrue a General Interest Charge, adding further cost the longer a return remains outstanding.
When Should You Actually Start Preparing?
- From 1 July — you can technically lodge, but the ATO recommends waiting until your income statement is marked “Tax ready” in myGov, typically by late July, to avoid lodging with incomplete pre-filled data
- July through October — the practical window for gathering documentation: income statements, interest and dividend statements, private health insurance details, and receipts for deductible expenses
- By September — a sensible point to decide whether you’ll self-lodge or engage a registered tax agent, giving yourself buffer time either way
Business Deadlines Are a Separate Consideration
If you run a business, Business Activity Statement (BAS) deadlines follow their own quarterly schedule, separate from the annual individual tax return deadline. Registered tax and BAS agents often have access to a slightly extended BAS lodgement schedule as well — another practical advantage of working with a registered professional rather than managing every deadline independently.
Lodgement Deadline vs. Payment Deadline: An Important Distinction
It’s worth understanding that the deadline to lodge your return and the deadline to pay any tax owing aren’t always identical. In some circumstances, even if your lodgement date is deferred through a tax agent’s program, the ATO may still expect payment by an earlier date — missing this can trigger interest charges even if your return itself was lodged on time.
What If You’ve Already Missed a Previous Year’s Deadline?
If you have an overdue return from a prior year, it’s generally best to lodge it as soon as possible rather than waiting, since penalties and interest continue to accrue the longer it remains outstanding. Engaging a registered tax agent to help bring overdue lodgements up to date can also sometimes help in requesting remission of penalties, depending on your specific circumstances — something worth discussing directly rather than assuming penalties are fixed and unavoidable.
Deadlines for Companies and Trusts
Businesses operating as companies or trusts generally follow a different lodgement timeline to individuals, often with dates that vary depending on the size of the business and whether they’re on a tax agent’s lodgement program. If you operate under one of these structures, it’s worth confirming your specific deadline directly with your accountant rather than assuming the individual 31 October date applies in the same way.
Setting Yourself Up for an Easier Deadline Next Year
Rather than treating each year’s deadline as a fresh scramble, keeping records organised throughout the year — a simple folder for receipts, a habit of noting deductible expenses as they occur — makes each subsequent tax season considerably less stressful, regardless of whether you self-lodge or work with an agent.
A Practical Timeline for Perth Taxpayers
| Timing | What to Do |
|---|---|
| July (after “Tax ready” status) | Gather documents, decide: self-lodge or use an agent |
| Before 31 October | Register with a tax agent if you want the extension, or self-lodge by this date |
| Through to 15 May (if using a registered agent) | Extended lodgement window, subject to being registered before 31 October |
Why This Matters Beyond Just Avoiding Penalties
Beyond the financial penalty, missing deadlines creates unnecessary stress and can complicate other financial processes — loan applications, for instance, sometimes require your most recent tax return, and being behind on lodgement can create friction at an inconvenient time.
Final Thoughts
The 31 October deadline is the one most people need to know, but the registered tax agent extension is arguably the more valuable piece of information — provided you act on it before the standard deadline, not after.
TFP Tax Accountants offers tax return services in Perth as a registered tax agent, giving eligible clients access to extended lodgement deadlines. Get in touch before 31 October to discuss your options.
