The Australian Taxation Office (ATO) has warned that two million Australians who have yet to file their 2024-25 tax returns risk penalties of up to $1650.

The deadline for individuals to self-lodge their income tax returns is October 31, and if you plan to lodge through a registered tax professional, you would also need to have an appointment by that date.

Tardy lodgers could be penalised as much as $330 for every 28 days for up to five months.

ATO assistant commissioner Rob Thomson told ACM that taxpayers needed to ignore the "myths".

"Some people lodge late because they think, if they do it last minute and suspect they are going to receive a tax bill, that changes the due date for their bill. It actually doesn't."

If you incur a tax bill - for example, by moving to a higher tax brac

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