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How does the tax return system work in Australia?

Australia system tax return
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How does the tax return system work in Australia?

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If you earnt income in Australia, or derived profits from the sale of assets in Australia, you are required to lodge an income tax return for the income year ending 30 June by 31 October in the same year (the Australian tax year runs from 1 July to the following 30 June). This is regardless of you being an overseas resident. Penalties may apply for late lodgements. Where you use a Registered Tax Agent you get an extension on the 31 October deadline.

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