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Important dates to remember

Every financial year there are important dates to remember for your business, so make a note.

Firstly, these key tax dates relate to compulsory lodgement of information to the Australian Taxation Office. Secondly, for your business to remain ATO compliant we recommend you mark your calendar. Lastly and most importantly this will mean your business financial reporting will not fall behind.

Upcoming dates – mark your calendar

31 March 2021 

  • Lodge tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large/medium taxpayers), unless the return was due earlier.
  • Pay tax for companies and super funds in above category.
  • Lodge tax return for the head company of a consolidated group (excluding large/medium), with a member who had a total income in excess of $2 million in their latest year lodged, unless the return was due earlier.
  • Pay tax for companies in above category.
  • Lodge tax return for individuals and trusts whose latest return resulted in a tax liability of $20,000 or more, excluding large/medium trusts.
  • Payment for individuals and trusts in above category is due as advised on their notice of assessment.

Important dates for April 2021

21 April 2021 

  • Lodge and pay March quarter PAYG instalment activity statement for head companies of consolidated groups.
  • Monthly BAS due for March 2021

28 April 2021

  • Lodge and pay March BAS if electing to receive and lodge by paper and not an active STP reporter.
  • Pay March 2021 BAS instalment notice (form R, S or T). Lodge the notice only if you are varying the instalment amount
  • Super Guarantee (SG) contributions due for March quarter NOTE: Employers who do not pay minimum super contributions for quarter 3 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement – quarterly (NAT 9599) by 28 May 2021. The super guarantee charge is not tax deductible.

30 April 2021

  • Lodge TFN report for closely held trusts if any beneficiary quoted TFN to a trustee in March 2021
  • Lodge lost members report for the period 1 July 2020 to 31 December 2020

May 2021 dates for your calendar

15 May 2021

  • Lodge 2020 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups) that are not eligible for the 5 June concession.
  • Tax return payments due for companies and super funds to pay if required. NOTE: Individuals and trusts in this category pay as advised on their notice of assessment.

21 May 2021

  • Monthly BAS due for April 2021
  • Final date to add new FBT clients to your client list to ensure they receive the lodgement and payment concessions for their fringe benefits tax returns.
  • Lodge and pay Fringe benefits tax annual return if lodging by paper.

26 May 2021  

  • Lodge and pay March 2021 BAS if you or your client have elected to receive and lodge electronically.

28 May 2021  

  • Pay Fringe benefits tax annual return if lodging electronically.
  • Lodge and pay March 2021 Superannuation guarantee charge statement – quarterly (NAT 9599) if the employer did not pay enough contributions on time. NOTE: Employers who lodge a Superannuation guarantee charge statement – quarterly can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge. The super guarantee charge is not tax deductible.

Dates to remember in June 2021

5 June 2021

  • Lodge tax return for all entities with a lodgement due date of 15 May 2021 if the tax return is not required earlier and both of the following criteria are met. NOTE: This includes companies and super funds but excludes large/medium taxpayers and head companies of consolidated groups. Criteria;
    • non-taxable or a credit assessment in latest year lodged
    • non-taxable or receiving a credit assessment in the current year.
  • Lodge tax returns due for individuals and trusts with a lodgement due date of 15 May 2021 provided they also pay any liability due by this date. EXTRA NOTE: This is not a lodgement due date but a concessional arrangement where failure to lodge on time (FTL) penalties will not apply if you lodge and pay by this date.

21 June 2021 

  • Monthly BAS due for May 2021

25 June 2021 

  • Lodge 2021 Fringe benefits tax annual return for tax agents if lodging electronically. Payment (if required) is due 28 May.

30 June 2021

  • Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2020–21 financial year. NOTE: If any of your clients receive Child Care Subsidy and Family Tax Benefit payments from Services Australia, the client and their partners must lodge their 2019–20 tax return by 30 June 2021, regardless of any deferrals in place. See Services Australia , for more information.

Important dates for ATO compliance

CVW Accounting staff are often asked questions about due dates therefore below is  a list that includes generic lodgement dates for;

  • Superannuation contribution due dates,
  • Quarterly BAS Statement due dates
  • Monthly BAS / IAS Statement due dates

If you have questions about due dates for your business, superannuation fund or trust, contact us for more information.

SUPERANNUATION CONTRIBUTION DUE DATES

for the period                          due date

July to September                   28 October

October to December             28 January

January to March                    28 April

April to June                            28 July

QUARTERLY BUSINESS ACTIVITY STATEMENT DUE DATES

for the period                          due date

July to September                   28 October

October to December             28 February

January to March                    28 April

April to June                            28 July

MONTHLY BUSINESS ACTIVITY STATEMENT / INSTALMENT ACTIVITY STATEMENT DUE DATES

for the period                          due date

July                                          21 August

August                                     21 September

September                              21 October

October                                   21 November

November                               21 December

December                               21 January

(do you see a pattern here?)

January                                    21 February

February                                  21 March

March                                      21 April

April                                        21 May

May                                         21 June

June                                         21 July

Source: ATO

Are you behind in your lodgements?

CVW Accounting can negotiate with the ATO on your behalf which means you can touch base today to get your ATO compliance back on track.

Contact CVW Accounting for a no obligation chat on 9219 1300.

 

This blog was originally created in February 2017. It has since been updated in June 2018, March 2020, January 2021 as well as in March 2021.

INFORMATION SOURCE: Australian Taxation Office

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