Understanding Non Lodgement Tax Return in Australia

Non lodgement tax returns refer to a notification to the ATO that you will not be submitting a tax return for a specific financial year. 

This typically happens when your income falls below the tax-free threshold or is non-taxable. The ATO requires you to fill out a non-lodgement advice form, even when your income is not taxable, to keep your record up-to-date and prevent unnecessary follow-ups or penalties.

ATO Non Lodgement Tax Return Form 2023

If you don’t need to submit a tax return for the fiscal year 2023, you’ll need to provide a non lodgement advice to the ATO. 

But how can you do this? Well, there are multiple ways. 

You can lodge this form online via myGov, by phone through the ATO’s automated service, or by contacting our authorised tax advisors at Odin Tax.

Your Trusty Lifeline: The ATO Non Lodgement Phone Number

The ATO offers a non lodgement phone number, providing a direct line to their helpful team. This service is instrumental in answering queries, providing guidance, or helping with online form submission. It’s your go-to resource for any ATO-related question.

The Corporate World and Non Lodgement Advice

Just as individuals, companies too might have to submit a company non lodgement advice. This is common when a company hasn’t conducted business or generated any taxable income within a financial year. 

It’s crucial to submit this form to maintain compliance with the ATO and avoid any unnecessary penalties.

Delving into the Past: Non Lodgment Advice for Previous Years

What if you needed to submit a non lodgement advice but forgot to do so in previous years? Don’t worry; it’s never too late. 

The ATO allows submission of non lodgment advice for previous years. Ensure to complete this process to keep your tax records up-to-date.

ABN and Non Lodgement: What's the Connection?

If you’re an expat or an overseas investor running a business in Australia, your ABN (Australian Business Number) plays a crucial role in tax affairs. If you don’t require to submit a company tax return, a non lodgement advice ABN should be submitted to the ATO. This process helps maintain the validity of your ABN and ensures your business’s compliance with tax laws.

The Australian Business Number (ABN) and non-lodgement are connected in the sense that both pertain to tax obligations in Australia, but they are distinct concepts.

An ABN is a unique identifier issued by the Australian Taxation Office (ATO) to businesses and organisations operating in Australia. It is used for various purposes, including taxation, business registration, and communication with government agencies. 

Having an ABN is generally a requirement for businesses that engage in commercial activities or operate as a sole trader.

On the other hand, non-lodgement refers to the process where individuals inform the ATO that they are not required to lodge a tax return for a specific financial year. This typically occurs when an individual’s income falls below the tax-free threshold or when they meet certain exemptions.

The connection between ABN and non-lodgement lies in the fact that having an ABN does not automatically exempt an individual or a business from lodging a tax return. 

While businesses with an ABN are generally expected to lodge tax returns, there may be circumstances where a business with an ABN does not need to lodge a tax return. These circumstances could include situations where the business has ceased trading, has no income or activity, or meets specific exemptions.

It’s important to note that the specific rules and requirements surrounding ABNs and tax lodgement can vary depending on individual circumstances and business structures. 

Navigating Australia's Complex Tax Laws with Odin Tax

Australia’s tax laws can be complex, but understanding them is key to maintaining financial compliance, whether you’re an individual taxpayer, a business, or an investor. 

Submitting a non lodgement tax return when necessary is an essential step in this process. If you need help navigating these waters, reach out to our tax advisors who can guide you through every step, ensuring your peace of mind.

Our team of experts is always ready to assist you in making tax matters simple and stress-free. Contact Odin Tax today.

Frequently Asked Questions

A non lodgement form is a notification submitted to the ATO when you’re not required to lodge a tax return for a specific financial year.

If you fail to pay your tax, the ATO might apply a failure-to-lodge-on-time penalty. This can be avoided by ensuring you either lodge your tax return or a non lodgement advice on time.

Pensioners may need to lodge a tax return, depending on their income level and sources. However, if their income falls under non-taxable conditions, they should submit a non lodgement form.

The ATO applies a failure-to-lodge-on-time penalty if you fail to lodge a tax return or a non lodgement advice on time. It’s calculated according to the delay period, and it can significantly accumulate over time.

Yes, in certain cases where income is below the tax-free threshold or is non-taxable, you may not need to lodge a tax return. However, it’s crucial to submit a non lodgement advice to inform the ATO.

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