IS YOUR TAX RETURN BEYOND A DUE DATE? Reasons that clients usually quote vary, including loss of documents, being generally pre-occupied with more important matters, or simply procrastinating. While it would be interesting to conduct a study into why we act so, I wish to help you to understand what the likely implications are, and if there is any way to avoid associated fines, interest, penalties, etc.

As a general rule, Excess Contribution Charge (ECC) is levied on taxpayers whose concessional and non-concessional contributions exceeded the annual cap. The cap on the contributions applies from the 1^st July 2007. The cap for the FY 2013/14 applicable to concessional super contributions is $25,000, unless you are aged over 59 on the last day of the financial year 2013/14, which would then increase further to $35,000.