Important Tax Dates for Businesses in Australia

Randwick tax agent

Being a business owner brings numerous challenges and responsibilities. Calculating and filing your tax returns right is an essential one. For this, you should know the important dates for businesses to lodge returns in Australia. Let's take a look at what those are:

15 January: Trusts, businesses, and companies whose annual income was over $10 million in the last fiscal year should file the return by this date.

21 January: For the previous year's monthly PAYG statements, this is the first deadline. Automatic tax deduction happens according to ATS (Australian Tax System) on a PAYG basis. Thus, as a business owner, you should file monthly activity statements every 21st. It is connected to the income at source withholding for retirement fund and tax reasons. It is the only thing to be concerned about for employers with the responsibilities of PAYG.

28 February: For businesses, it is the deadline to make actual payments and lodgings connected to the last fiscal year's December quarter.

28 April: For businesses in Australia, this is the deadline for lodging income tax returns and payments for the current fiscal year's March quarter.

28 July: This deadline is for businesses to make payments and lodging related to the current fiscal year's June quarter.

14 August: The due date for businesses to lodge PAYG withholding's annual summary. It covers details of the payments to additional payees or employees and total withheld amounts from salaries and wages.

28 October: Deadline for businesses to make payments and lodgings belonging to the current fiscal year's September quarter.

21 December: The employer's due date to lodge the November statement for their employees' PAYG activities. This is also the final date for last year's taxes.

We understand handling all this can be challenging. A tax Accountant from Randwick can help you adhere to all these and other taxation responsibilities.