Skip to content
Government Federal, Taxation

Clock is ticking on small business lodgment penalty amnesty

Australian Taxation Office 2 mins read

Late lodgment penalties will be remitted under the amnesty which ends on 31 December 2023 for small business income tax returns, fringe benefits tax (FBT) returns and business activity statements (BAS) originally due between 1 December 2019 and 28 February 2022.

More than 14,000 small businesses have taken advantage of the amnesty since it kicked off on 1  June 2023, with more than $48 million in failure to lodge (FTL) penalties remitted.

Directors who bring their company lodgments up to date can also have FTL penalties remitted if they rely on company lodgments to finalise their own tax affairs. This applies to eligible lodgments made between 1 June and 31 December 2023.

ATO Assistant Commissioner, Jillian Kitto says this amnesty is the perfect opportunity for small businesses to re-engage with their tax affairs and get back on track with their lodgment obligations without penalties.

‘All you need to do to take advantage of this opportunity is lodge, and we will remit any failure to lodge penalty.’

‘Having up-to-date lodgments is important, as it will give you a better understanding of your true financial position and ensure you can make informed decisions about your priorities and future planning,’ said Ms Kitto.

If a small business has ceased trading, they need to advise their registered tax professional, or contact the ATO directly to seek assistance with finalising their tax obligations, which may include lodging overdue returns, cancelling their ABN and paying any amounts overdue.

While penalties will be remitted under the amnesty, if a business finds themselves with a tax debt after their overdue forms are lodged, it’s important they pay in full to avoid further interest charges or check the ATO website to see if they are eligible for a payment plan.

Notes to journalists

  • ATO file footage is available for use in news bulletins from our media centre.
  • headshot of ATO Assistant Commissioner Jillian Kitto is available for download from our media centre.

More information is available on the ATO website, including:


Contact details:

mediaunit@ato.gov.au | 02 6216 1901

More from this category

  • Government Federal
  • 26/02/2024
  • 08:00
Parliament of Australia

Treaties Committee to consider Universal Postal Union treaty actions

TheJoint Standing Committee on Treaties(JSCOT) will hold a public hearing today for its inquiries into two Universal Postal Union treaty actions: Acts of the Universal Postal Union adopted by the 2nd Extraordinary Congress: Tenth Additional Protocol to the Constitution of the Universal Postal Union and Second Additional Protocol to the General Regulations of Universal Postal Union Acts of the Universal Postal Union adopted by the 27th Universal Postal Congress: Eleventh Additional Protocol to the Constitution of the Universal Postal Union, Third Additional Protocol to the General Regulations of the Universal Postal Union, the Universal Postal Convention, the Final Protocol to…

  • Education Training, Government Federal
  • 25/02/2024
  • 13:59
La Trobe University

La Trobe University welcomes the release of the final report of the Australian Universities Accord

SUNDAY 25 FEBRUARY 2024 Attributed to Professor Theo Farrell, Vice-Chancellor, La Trobe University La Trobe University welcomes the release of the Australian Universities Accord report today by the Hon. Jason Clare MP, Minister for Education. The University is pleased to see the majority of our own recommendations reflected and endorsed in the report. The Accord’s recommendations are bold and ambitious and, if adopted, could positively shift the dial for higher education in Australia. As the report itself states, these reforms will require a large investment from the Australian Government. With equity at the core of La Trobe’s mission, and as…

  • Education Training, Government Federal
  • 25/02/2024
  • 13:58
Independent Tertiary Education Council Australia (ITECA)

Australian Universities Accord Final Report Is A Comprehensive But Incomplete Reform Roadmap

The Australian Universities Accord Final Report is a comprehensive if incomplete roadmap for a high-quality and sustainable post-secondary education sector, according to the Independent Tertiary Education Council Australia (ITECA), the peak body representing independent providers in the higher education, skills training and international education sectors. “The significance of the Australian Universities Accord Final Report is in its very nature, it is institution-centric and doesn’t put students at the heart of the higher education sector,” said Troy Williams, ITECA Chief Executive. ITECA welcomes the report’s focus on improving access to higher education. “The focus on addressing equity and skill requirements requires…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.