CHANGES TO LATE FILING PENALTIES FROM 1 APRIL 2002
staggered application of the initial late payment penalty- an initial 1% late penalty will be charged on the day after the due date. Any amount of unpaid tax (including penalties) outstanding at the end of the seventh day from the due date will be charged a further 4% initial penalty.
no incremental late payment penalties on debt under an instalment arrangement- the 1% incremental late payment penalty will not be imposed if the taxpayer has met their monthly obligations.
Income Tax returns for 31 March 2001, due for payment on 7 April 2002
GST returns for 31 March 2002, due for payment on 30 April 2002
PAYE returns for 31 March 2002, due for payment on 5 April 2002 for large employers and 22 April 2002 for small employers.
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