Have you failed to send in a tax return for any year since 2000? If the answer is yes — even if you were at school at the time — watch out. The Tax Office may send you a letter threatening to fine you thousands of dollars or throw you in prison if you don’t file it right away.
But don’t panic. While the letter is not a scam, the Tax Office is trying it on in some cases and appears to have misrepresented the penalties. Crikey understands the ATO has new targets to reach on non-lodgement of returns. So read on to beat the taxman’s fishing trip for revenue.