Notice of Requirement to Lodge a Return for the Year of Income Ended 30 June 2018

Administered by Department of the Treasury

Legislation au F2018L00620 In force Legislative Instrument

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Explanatory Statement

 

Notice of Requirement to Lodge a Return for the Year of Income Ended 30 June 2018

 

 

General outline of instrument

 

(1)        This legislative instrument sets out which persons are required and which persons are exempt from the requirement to lodge an income tax return for the income year, and the date by which it must be lodged.

 

(2)        It further provides details on other lodgment requirements for:

(a)           franking account returns, including special rules for late balancing corporate tax entities that elect to use 30 June as a basis for determining their franking deficit tax liability

(b)           venture capital deficit tax returns

(c)           ancillary fund returns

(d)           trustees of self managed superannuation funds.

 

(3)        This instrument is a legislative instrument for the purposes of the Legislation Act 2003.

 

(4)        Under subsection 33(3) of the Acts Interpretation Act 1901, where an Act confers a power to make, grant or issue any instrument of a legislative or administrative character (including rules, regulations or by-laws), the power shall be construed as including a power exercisable in the like manner and subject to the like conditions (if any) to repeal, rescind, revoke, amend, or vary any such instrument.

 

Date of effect

 

(5)        This instrument is effective from the day after it is registered on the Federal Register of Legislation.

 

What is this instrument about

 

Requirement to lodge

 

(6)        This instrument defines a person and sets out the requirements for a person to lodge a return in the approved form for the income year and the date by which they are to lodge under section 161 of the Income Tax Assessment Act 1936 (ITAA 1936).

 

(7)        Section 161 of the ITAA 1936 refers to the notice to be given by the Commissioner of Taxation (the Commissioner) to require an income tax return to be lodged by a date specified.

 

(8)        The instrument also provides for certain classes of persons to be exempt from lodgment requirements in accordance with subsection 161(1A) of the ITAA 1936.

 

Other lodgment requirements

 

(9)        The instrument provides details on the approved form and due date for lodgment for:

(a)           a corporate tax entity to lodge a franking return, including the special rules for late balancing corporate tax entities that elect to use 30 June as a basis for determining their franking deficit tax liability. Section 214-15 of the Income Tax Assessment Act 1997 (ITAA 1997) refers to the notice to be given by the Commissioner to require corporate tax entities to give a franking return.

(b)           an entity to lodge a venture capital deficit tax return under section 214-15 of the ITAA 1997.

(c)           a trustee of a public ancillary fund or a private ancillary fund to lodge an Ancillary fund return.

 

(10)    It also provides details for a trustee of a self managed superannuation fund to lodge their income tax return as part of the Self-managed superannuation fund annual return. Section 35D of the Superannuation Industry (Supervision) Act 1993 (SISA) refers to the Commissioner’s requirement to specify by legislative instrument a reporting period if the length of the period is not prescribed by the Superannuation Industry (Supervision) Regulations 1994.

 

(11)    The lodgment of member information statements by superannuation providers is required under section 390-5 of Schedule 1 to the Taxation Administration Act 1953. The instrument provides the due date for lodgment for the superannuation plans that are self managed superannuation funds.

 

Additional lodgment information

 

(12)    Additional lodgment information is also provided including that:

(a)           the return must be in the approved form

(b)           the Commissioner may defer the time for lodgment of any return specified in this instrument

(c)           nothing in this instrument prevents the Commissioner from issuing a notice of requirement to lodge a return or information under section 162 or section 163 of the ITAA 1936

(d)           nothing in this instrument prevents the Commissioner or an authorised person of the Australian Taxation Office from granting an exemption from lodgment, and

(e)           penalties for non-compliance with lodgment requirements may apply.

 

What is the effect of this instrument

 

(13)    It satisfies the requirements of the Commissioner to publish certain information in a notice or legislative instrument.

 

(14)    The instrument advises who must lodge, when they must lodge, how they should lodge and that penalties may apply if they don’t lodge.


Compliance cost impact

 

(15)    Minor – there will be no or minimal impacts for both implementation and ongoing compliance costs. The legislative instrument is minor or machinery in nature.

 

Background

 

(16)    Since the commencement of the ITAA 1936, section 161 of that Act refers to the requirement to lodge an annual return. Every person must, if required by the Commissioner, give to the Commissioner a return for a year of income within the period specified in the notice.

 

(17)    This legislative instrument satisfies the requirements under section 161 and related section 130 of the ITAA 1936, as well as the requirements of section 214-15 of the ITAA 1997, paragraph 35D(2)(b) of the SISA and subsection 390-5(6) of Schedule 1 to the TAA.

 

Consultation

 

(18)    Subsection 17(1) of the Legislation Act 2003 requires, before the making of a legislative instrument, that the Commissioner is satisfied that appropriate and reasonably practicable consultation has been undertaken.

 

(19)  Public consultation has been undertaken. The draft legislative instrument and draft explanatory statement were published on the ATO Legal Database at ato.gov.au on 19 February 2018 seeking feedback and comments for a period of two weeks. The ATO Legal Database sends emails and news feeds to direct subscribers such as tax professionals and other industry stakeholders. Consultation on the draft legislative instrument and draft explanatory statement was also announced on “What we are consulting about” at ato.gov.au. No comments were received during the consultation period.

 


Statement of Compatibility with Human Rights

 

This Statement is prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

 

Notice of Requirement to Lodge a Return for the Year of Income Ended 30 June 2018 

 

This legislative instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

 

Overview

 

This instrument sets out which persons are required to lodge an income tax return or a self managed superannuation fund annual return, franking return, venture capital deficit tax return or ancillary fund return for the year of income ended 30 June 2018. It includes the date by which the returns must be lodged, the requirements to lodge in the approved form and the penalties that may apply.

 

Human rights implications

 

This legislative instrument does not engage any of the applicable rights or freedoms as it simply provides notice for taxpayers on their obligations to lodge returns.

 

Conclusion

 

This legislative instrument is compatible with human rights as it does not raise any human rights issues.

 

 

 

 

Overview

The Notice of Requirement to Lodge a Return for the Year of Income Ended 30 June 2018 is a legislative instrument introduced by the Commissioner of Taxation under the authority granted by the Income Tax Assessment Act 1936 and the Legislation Act 2003. This instrument was enacted to address the need for clear and timely guidelines on the requirements and exemptions related to lodging various tax returns for the specified income year. The primary policy objective of this legislative instrument is to ensure compliance with tax laws by specifying who must lodge returns, the approved forms and due dates, and the potential penalties for non-compliance. It also provides specific details on lodgment requirements for franking returns, venture capital deficit tax returns, ancillary fund returns, and self-managed superannuation fund annual returns. This instrument is effective from the day after it is registered on the Federal Register of Legislation and satisfies the requirements for appropriate consultation and compatibility with human rights.

Scope and Application

The Notice of Requirement to Lodge a Return for the Year of Income Ended 30 June 2018 is a legislative instrument that sets out the obligations for certain persons and entities to lodge various tax returns for the specified income year. It applies to individuals, corporate tax entities, trustees of self-managed superannuation funds, and entities required to lodge ancillary fund returns or venture capital deficit tax returns. The instrument mandates the date by which these returns must be lodged and specifies the form in which they should be submitted. Additionally, it provides for exemptions from lodgment requirements for certain classes of persons, as stipulated under subsection 161(1A) of the Income Tax Assessment Act 1936. The instrument also addresses the lodgment requirements for franking returns, venture capital deficit tax returns, ancillary fund returns, and self-managed superannuation fund annual returns, with specific rules for entities that use 30 June as a basis for determining their franking deficit tax liability. This instrument is effective from the date it is registered on the Federal Register of Legislation and applies nationwide within Australia, aligning with the requirements of the Commissioner of Taxation as outlined in the Income Tax Assessment Act 1936, the Income Tax Assessment Act 1997, the Superannuation Industry (Supervision) Act 1993, and the Taxation Administration Act 1953. The instrument does not impose any significant compliance costs and has been subject to public consultation as required by the Legislation Act 2003.

Key Provisions

The legislative instrument (F2018L00620) outlines the requirements for lodging various returns for the income year ended 30 June 2018. Section 6 of the instrument defines who is required to lodge an income tax return and specifies the form and date by which it must be lodged, as outlined in section 161 of the Income Tax Assessment Act 1936 (ITAA 1936). It also provides for certain classes of persons to be exempt from these requirements, in accordance with subsection 161(1A) of the ITAA 1936. Additionally, it details the requirements for lodging franking returns, venture capital deficit tax returns, and ancillary fund returns, as well as the reporting obligations for trustees of self-managed superannuation funds. The instrument stipulates that these returns must be lodged in the approved form and by the specified due dates. The obligations imposed by this instrument on the relevant parties include the timely lodging of the specified returns in the approved format. For example, corporate tax entities must lodge a franking return as per section 214-15 of the Income Tax Assessment Act 1997 (ITAA 1997), while trustees of self-managed superannuation funds must ensure their returns are part of the Self-managed superannuation fund annual return. The Commissioner of Taxation has the authority to defer the lodgment time for any return specified in the instrument and can issue notices requiring lodgment or grant exemptions from lodgment under the ITAA 1936. The instrument also notes that penalties may apply for non-compliance with the lodgment requirements. Breaches of the lodgment requirements set out in this instrument can result in civil or criminal consequences. For example, under section 284 of the ITAA 1936, a person who fails to lodge an income tax return or provides false or misleading information can be subject to a penalty of up to $1,100 or imprisonment for up to 12 months, or both. The penalties for failing to comply with other lodgment requirements, such as those for franking returns or ancillary fund returns, may vary but can also include significant fines and potential imprisonment. The exact penalties depend on the specific breach and the relevant provisions of the applicable Acts.

Legal classification tags

Area of Law
Taxation Law
Instrument
Legislative Instrument
Concepts
Definitions & Interpretation
Reporting & Disclosure Obligations
Penalties & Sanctions
Compliance Obligations

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.