CLUB OR SOCIETY?
If the bank account is in the name of a society, club or other organisation whose income is exempt
in the name of a non-profit company whose taxable income is not more than $416 per annum
You can also use the simple ATO claim form.
IF YOU DO NOT NEED TO LODGE A RETURN…
…but you have previously lodged returns, you're still not entirely off the hook. You should submit a "Non-lodgment Advice" to the Australian Taxation Office.
IF YOU DO NEED TO LODGE ONE...
...and are doing it yourself (rather than via a tax agent), you need to lodge it by 31 October or you could face a penalty.
HAVE YOU RECEIVED A SUMMONS, A STATEMENT OF CLAIM OR A LIQUIDATED CLAIM?
If you’re being taken to court, don’t ignore it or judgment may be entered against you in your absence.
Seek legal advice immediately. If you can’t afford a solicitor, get free legal advice.
WORK THE TIMING
If you’re expecting a tax return, get your return in as quickly as you can to receive the money earlier.
If you’re expecting to make a payment, hold off your return until close to the deadline. For most of us, that is 15th May in the following year (unless you lodge it yourself in which case it’s 31st October in the current year).
Check ATO lodgment dates for individuals, if you’re not sure.
BEWARE THE EQUITY STRIPPERS
A small but dangerous minority of finance businesses has been found to churn clients from one loan to another, often exaggerating the threat of repossession.
Each time, large fees (sometimes tens of thousands of dollars) reduce the owners’ equity in the home, leaving them worse off and ultimately more likely to lose their home.
If you are contemplating refinancing, read this first.