The ATO is encouraging small businesses that have overdue income tax returns, fringe benefits tax returns or business activity statements to take advantage of lodgement amnesty that will run until 31 December 2023.

Announced in the 2023-24 Budget, the amnesty applies to tax obligations that were originally due between 1 December 2019 and 28 February 2022 and has been available since 1 June 2023.

To be eligible for the amnesty, the small business must be an entity with an aggregated turnover of less than $10 million at the time the original lodgement was due.

During this time, small businesses can lodge their eligible overdue forms and the ATO will then remit any associated failure-to-lodge penalties.

ATO Assistant Commissioner Emma Tobias said: “The past few years have been tough for many small businesses, with the pandemic and natural disasters having a significant impact. We understand that things like lodging ATO forms may have slipped down the list of priorities. But it is important to get back on track with tax obligations. Lodging these forms are not optional, so we hope our amnesty will make it easier for impacted small businesses to get back on track.”

Ms Tobias also encourage all businesses to lodge any overdue forms, even if they are outside the eligibility period. She said that whilst forms outside the amnesty eligibility criteria will attract failure-to-lodge penalties, the ATO will consider particular circumstances and may remit such penalties on a case-by-case basis.