Important dates to remember

The financial year is filled with important dates to remember for your business to maintain compliance. So, read on and take notes or mark your calendar.

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

Important dates in July 2022

21 July

• Monthly BAS due for June 2022.
• Quarterly BAS due for head companies of consolidated groups.

28 July

• Quarterly BAS due lodging by paper i.e., not an active STP reporter.
• Pay quarter 4, 2021–22 instalment notice (form R, S or T). Lodge notice only if varying instalment amount.
• Make super guarantee contributions for quarter 4, 2021–22.

NOTE: employers who do not pay minimum super contributions for quarter 4 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement by 28 August 2022.

The super guarantee charge is not tax deductible.

31 July

• Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 4, 2021–22.
• Lodge venture capital deficit tax return for June balancers.
• Lodge franking account return for 30 June balancers if there is an amount payable.
• Lodge early-stage innovation company report.

Important calendar dates in August 2022

14 August

• Lodge PAYG withholding payment summary annual report for:
  • large withholders whose annual withholding is greater than $1 million.
  • payers who do not have a tax agent/ BAS agent involved in preparing report.

21 August

• Monthly BAS due for July 2022.

25 August

• Lodge and pay quarter 4, 2021–22 activity statement if lodge electronically.

28 August

• Lodge and pay quarter 4, 2021–22 Superannuation guarantee charge statement if the employer did not pay enough contributions on time.

NOTE: Employers who lodge a Superannuation guarantee charge statement 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.

Important calendar dates in September 2022

21 September

• Monthly BAS due for August 2022.

30 September

• Lodge PAYG withholding payment summary annual report if prepared by BAS agent/ tax agent excluding large withholders whose annual withholding is greater than $1 million.
• Lodge Annual TFN withholding report 2022 if a trustee of a closely held trust has been required to withhold amounts from payments to beneficiaries.

NOTE: this includes companies and super funds but excludes large/medium taxpayers and head companies of consolidated groups.

• Lodge tax returns due for individuals and trusts with a lodgement due date of 15 May 2022 provided they also pay any liability due by this date.
  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.

Do you have questions? Please do not hesitate to contact the CVW Accounting team on 9219 1300.

Important dates for ATO compliance

CVW Accounting staff are often asked questions about due dates. 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 been updated in June 2018, March 2020, January 2021, and March 2021 as well as in June 2021. The most recent updates were 30 August 2021, January 2022 and July 2022.

INFORMATION SOURCE: Australian Taxation Office