By Peter Woodford, Port Stephens Accountants & Business Advisors · Published October 2026
If you have not yet lodged your 2025–26 individual tax return, the clock is running. The standard deadline is 31 October 2026 — and because 31 October falls on a Saturday this year, the ATO accepts lodgement on the next business day, Monday 2 November 2026. That is a small grace, not an extension. If you are self-lodging through myTax and you are not done by then, you are late.
Here is what you need to know and what you should do right now.
What are the exact deadlines?
If you are self-lodging through myTax (ATO):
Your deadline is 31 October 2026. Because this falls on a Saturday, the ATO will accept your return on Monday 2 November — but do not leave it until the last minute. If myTax has technical issues on the day, the deadline does not move again.
If you are registered with a tax agent:
You may be eligible for an extended lodgement deadline — for most individual clients, this is 15 May 2027. However, the key condition is that you must be registered with your agent before 31 October 2026. If you engage an agent after that date, the standard deadline has already passed and the late lodgement exposure applies regardless of when your agent lodges your return.
What happens if you miss the deadline?
Missing the 31 October self-lodge deadline triggers a Failure to Lodge (FTL) penalty. As of 1 July 2026, the penalty unit value increased to $364 — meaning you can be penalised $364 for every 28-day period your return remains unlodged, up to a maximum of $1,820. That is five penalty units and approximately five months of inaction.
A few important points about the penalty:
● It applies whether or not you owe any tax. Even if your return results in a refund, a late lodgement can still attract a penalty.
● It is separate from any interest the ATO charges on unpaid tax — so if you owe money and lodge late, you face both.
● Voluntary late lodgement is treated more favourably than a return the ATO identifies itself through data matching. Lodge late rather than not at all.
● If this is your first late lodgement and you have a good compliance history, you can request remission of the penalty — though there is no guarantee.
What to do right now
If you have not yet lodged and you are in Port Stephens, Nelson Bay, or the surrounding area, here is the straightforward path:
● If you intend to self-lodge: gather your documents and lodge through myTax before 2 November. Our Tax Return Checklist for 2025–26 covers everything you need.
● If you want a registered tax agent to handle it: contact us before 31 October to be registered on our lodgement program. This extends your deadline to 15 May 2027 and ensures your return is prepared accurately by an ATO-registered professional.
● If you have already missed the deadline: lodge as soon as possible. The penalty continues to accrue for every 28-day period the return remains outstanding.
Register before 31 October and extend your deadline to May.
Our Nelson Bay team is taking on new clients now. Call us before 31 October to get registered on our lodgement program — it takes one phone call and costs nothing upfront.
📞 Call 02 4984 3333
📍 First Floor, 55 Donald Street, Nelson Bay NSW 2315
This post provides general information only and does not constitute tax advice. Penalty amounts and ATO deadlines are subject to change — verify current figures at ato.gov.au or speak with a registered tax agent. PSABA is a registered tax agent under the Tax Practitioners Board. Liability limited by a scheme approved under Professional Standards Legislation.