Losing your extension of time (EOT)
It's important to file your tax return by the due date each year.
When you register with a tax agent, you're granted an extension for filing your tax returns (as long as you're linked with the tax agent before 7 July).
The deadline for filing your tax return yourself (DIY) with Inland Revenue (IRD) is 7 July. If you miss this deadline, you may face a late-filing penalty. However, if you use a tax agent, this deadline is extended until 31 March the following year. This extension helps you avoid the rush to get all your documents ready, and you'll have more cash on hand for longer.
If you file your tax return after 31 March, you risk losing your extension of time benefit. This means your next tax return will be due by 7 July instead of 31 March the following year. There's also a $50 late-filing fee charged by Inland Revenue per tax return.
If you've lost your EOT with the IRD due to late filing, we can apply to have it reinstated if we file your current tax return by the due date of 7 July.
Let us know if you have any questions.