2023 Income tax returns for clients linked to a tax agent with an extension of time are due by 31 March 2024. This due date coincides with Easter weekend.
- Returns filed from 29 March to 2 April 2024 will be treated as having been received in time and will not affect the extension of time.
- Filing of elections will depend on the election and the wording. Generally, elections that are to be filed by 31 March 2024, will be treated as received in time if filed by 2 April 2024.
Filing 2023 income tax returns and time bar
- If a tax agent files their client’s return on or before 31 March 2024, the time bar is 31 March 2028.
- If a tax agent files the return after 31 March 2024, the time bar extends out until 31 March 2029.
Deferral status for clients with exceptional circumstances (D status)
D status is available up until 30 March 2024. These requests are for clients who cannot file their returns by 31 March through no fault of their own and have an existing extension of time, or have received an L letter.
D status can be requested in myIR from the Intermediary Centre. Approved D status requests will be visible in myIR in the Intermediary Centre, on the agency activity report and in the unfiled returns report.
Income tax – more information requests
These need to be finalised by 31 March for clients that have an extension of time. If they are not finalised by this date, they will be automatically finalised on 2 April 2024 and the appropriate time bar rules will apply.
June balance date
For clients with a June balance date, if they file their 2023 return on or before 28 March 2024, their second instalment of 2024 provisional tax will be based on 105% of their 2023 residual income tax.
If the client’s return is filed after 28 March 2024, the second instalment will be based on 110% of their 2022 residual income tax.