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  • Private company directors: lodge or review your return

    If you are a director of a private company and your tax returns aren't up to date, or you didn't report all your income, now is the time to speak to a trusted adviser and lodge a tax return or make a correction.

    By matching data across a range of sources we've noticed that some directors of private companies received income but haven't lodged a tax return or told us about all their income.

    We'll be commencing reviews on lodgment and correct reporting for these company directors and their connected entities soon.

    When we find income that you haven’t told us about, we will work with you to get your obligations back on track.

    If you make a voluntary disclosure to us, you can generally expect a reduction in the penalties that would normally apply.

    Next steps

    Lodge any overdue tax returns as soon as possible or contact us to discuss your situation.

    If you find that you need to make an adjustment to your tax return or you have made a mistake you can:

    See also

    Last modified: 14 Oct 2021QC 67045