Most businesses have to submit monthly and quarterly activity statements all year round, as well as their end of financial year reports.
We’ve put together a schedule for the next tax year to help you be prepared for key dates throughout the financial year. Being prepared will help tax the stress out of meeting your reporting obligations.
End Of Financial Year Tax Returns
If you’re doing your own tax return, you need to lodge by:
- 31 October if you run your business as a sole trader, partnership or trust
- 28 February 2022, in most cases, if you run your business as a company
If you are using a tax agent, you need to be registered with us before 31st October. As registered Tax Agents, we have a lodgement program and can submit your returns after 31st October without late lodgement penalty fees.
It’s important to lodge your returns on time as it shows us that you’re aware of your obligations, and are doing your best to meet them. It will also give you certainty of your tax position.
When lodging your return, you will need to include assessable government payments such as JobKeeper, and other income such as cryptocurrencies, cash, online sales, dividends, interest and capital gains.
BAS Lodgements
If you would like to know more about BAS, read through our article on BAS Tips For The Time Poor.
As a registered Tax Agent, we can submit your BAS reports on your behalf. We not only make sure that your reports are correct, but also have additional time to submit them on your behalf.
Quarterly Reporting |
Self-Lodged Due Date |
Tax Agent Lodgement Extension |
| July to September | 28 October | + 28 Days |
| October to December | 28 February | No Extension |
| January to March | 28 April | + 28 Days |
| April to June | 28 July | + 28 Days |
Monthly Reporting |
Self-Lodged Due Date |
Tax Agent Lodgement Extension |
| All Months, except December | 21st day of month after | No Extension |
| December | 21 January | 21 February |
PAYG Instalment Notices
PAYG stands for Pay As You Go. PAYG instalments are based on your Business or Investment Income. They are different to PAYG Withholding, which is when employers collect tax from the payments they make to employees and contractors.
Quarterly PAYG Instalment Notice |
Payment Due Date |
| July to September | 28 October |
| October to December | 28 February |
| January to March | 28 April |
| April to June | 28 July |
Employee Superannuation Guarantee
It is important to note that it can take a few days for superannuation payments to process. Best practice is to submit super early to ensure adequate time to process as the ATO can impose penalties on late payment of super.
Quarterly Superannuation Guarantee |
Due Date (Super Fund Receipt) |
| July to September | 28 October |
| October to December | 28 February |
| January to March | 28 April |
| April to June | 28 July |
ASAP Solutions offers a range of Tax & Bookkeeping Services. Talk to us about how we can help take the stress out of Tax.