The ATO has advised tax professionals that the PAYG withholding summary annual reports must be lodged by 14 August 2012. However, it says tax professionals with clients who meet certain criteria may be eligible to lodge their report by the due date of their return.
The ATO says to be eligible for the lodgment concession, the taxpayers must have:
- only closely held employees;
- lodged their PAYG withholding payment summary annual report 2011 by 30 June 2012; and
- lodged their 2011 tax return by 30 June 2012, and not received a “failure to lodge on time” penalty for that return.
Further, the ATO says tax agents with clients who fit the above description must notify the ATO by 15 September 2012 and lodge an concession request form where required. It says this lodgment concession does not apply to large withholders.
[LTN 145, 30/7]