The Australian Taxation Office has urged more than two million Australians to get organised and file their tax returns by Friday, October 31 or face a hefty fine.

The ATO revealed on Tuesday over two million Aussies were yet to file their tax returns and said time was fast running out for workers to meet the looming deadline.

ATO Assistant Commissioner Rob Thomson said taxpayers had until Friday, October 31 to input their returns or be slapped with a failure to lodge (FTL) on time penalty.

"You need to lodge your return and pay your tax in full and on time to avoid penalties, interest charges and firmer actions," Mr Thomson said.

Failure to lodge on time penalties can range in size and for individuals are calculated at one penalty unit ($330) then increase by a single penalty unit for

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