<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Hundreds of thousands of Australians are staring down the barrel of a possible $1600 fine, with just three days left to file an income </span><a href="https://www.9news.com.au/tax" rel="" target="_blank" title="tax return"><span>tax return</span></a><span> for the past financial year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Australian Taxation Office confirmed to 9news.com.au that more than half a million taxpayers were yet to lodge their returns.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>More than 10.2 million have filed on time.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/two-dead-underground-mine-explosion-far-west-nsw/4e39a4bc-ee81-481e-b5d1-0f9a1ec2abf6" target="_blank"><strong><span>Two dead after mine explosion near regional town</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The deadline for doing so is this Friday, October 31.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>People can face hefty fines for missing the deadline, starting with an immediate $330 penalty.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This increases by $330 for every full or partial 28-day period until the return is filed, so if you file it 30 days late, you will still be charged an extra $330 for those two days past 28.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/tax-return-deadline-october-31-hundreds-of-thousands-yet-to-file/358f513d-a879-4a9f-b5fe-a9e9f23226d1" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/pauline-hansons-one-nation-to-change-name-to-one-nation/0e4a0580-8268-43d9-9c29-ba68efd50d71" target="_blank"><strong><span>Pauline Hanson changes party name as polling support surges</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The penalties are capped at $1650 for individuals.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>All bills are due by November 21, and people have previously been warned about buying into "myth" that late lodgment meant an extension of payment deadlines.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"There's a bit of a myth that delaying lodgment of your tax return will buy you more time to pay – that's not true," ATO assistant commissioner Rob Thomson said earlier this month.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/medicare-bulk-billing-changes-australia-november-explained/0d3f161a-0dec-4861-aff4-7f440fb43984" target="_blank"><strong><span>Aussies about to benefit from major $7.9 billion health boost</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If you have prepared your own tax return and incur a tax bill, it will be due on 21 November."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>People who engage a tax agent to prepare their return can skip the October 31 deadline, as long as they're on the agent's books before that date.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Tax agents must be registered with the Tax Practitioners Board (TPB), which you can </span><a href="https://www.tpb.gov.au/public-register" rel="" target="_blank" title="check online"><span>check online</span></a><span>.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. 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