Tax Return Sydney

A Tax return is a statement, showing all the particulars of Income and Expenses done by the company. It is a self-assessment sheet submitted to the Australian government providing all the particulars about the profits earned and losses suffered during the year. It provides for the exact calculation of tax payable by the Assessee.   The accounting period for a company/corporate is generally 1st July to 30th June every year, except in some cases when it could be 1st January to 31st December owing to some special permissions. The company tax return is to be filed with the ATO on the 15th day of the seventh month from the end of the financial year i.e. 30th June or 31st December as the case may be.  Apart from tax calculation for the government, filing a tax return on time has the following advantages for the company.   Avoiding Penalties   Levy of penalties can be considered as one of the most significant matters while filing a tax return. If the return is filed on time, no pe