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ATO To Tighten Up On Late Tax Returns

by Mary Swire, Tax-News.com, Hong Kong

01 August 2002

The Australian Tax Office (ATO) says that the more permissive attitude it took towards late tax returns while the GST was being introduced is now over, and promised to fine those who file their tax returns late this year. The ATO can fine individuals $110 for each month that their returns are late, plus impose interest penalties; but ATO officials say they will not fine people who are due tax refunds.

According to the Sydney Morning Herald, however, the tax system has become so complex and the paperwork so overwhelming that even tax agents can't cope - and young people don't want to join an industry that is seen as boring .

Sydney tax agent and Taxpayers Australia president Alan Bates told the newspaper: "It is very hard to make this work look like it is exciting, but it is not helped by advertising which depicts tax agents as dull and boring people."

"The average age of tax agents now is around 55 and they are retiring or dying," Mr Bates said, stifling a yawn.

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