What are the key ATO lodgement dates?
ATO list of due dates
The Australian Taxation Office (ATO) usually provides a list of key due dates (such as this 2022-23 list) as a general guide.
We’ve created a handy link so you can easily add this to your Google Calendar and here’s a quick screen grab so you can see the dates at a glance.
Read on for quick answers to common questions about ATO dates. Please use this article as a guide only – it’s not personal tax or financial advice (you need to speak to us for that 🙂 ).
When is my tax return due?
For the typical 30 June end of financial year (EOFY), your tax return is due by 15 May the following year. For example: For the financial year ending 30 June 2022, your tax return is due by 15 May 2023.
For our clients, if they’re due a tax refund (such as through the R&D Tax Incentive), we prioritise working on their tax returns as soon as possible after the financial year ends – so they can get their refund sooner.
Also, you might need to pay PAYG instalments at the ATO’s request. This is basically an estimate of your annual PAYG tax payments, broken into quarters and paid through your quarterly BAS returns.
When is my BAS due?
BAS stands for Business Activity Statement. It’s the ATO’s method of managing Goods and Services Tax (GST) payments and refunds for businesses and sole traders registered for GST. As mentioned above, you might also need to pay PAYG instalments through your BAS.
BAS statements are typically lodged quarterly, and are due on the 28th of the month after a quarter ends. For example: the July-September BAS is due to be lodged by 28 October.
What are the payroll related due dates?
If you’re doing payroll, there’s a whole other level of ATO lodgement requirements. This includes:
- PAYG Withholding – this is tax that you withhold from your employees’ pay so you can pay it to the ATO. If you’re withholding $25,000 or less/year, this can be handled through the quarterly BAS process. If you’re above that threshold, you need to lodge monthly Instalment Activity Statements (IAS), which are typically due by the 21st of the following month (e.g. the July IAS is due by 21 August)
- Quarterly superannuation – due on the 28th of the month after each quarter ends
- Annual Statements to Employees – these are due on 14 July following the 30 June end of financial year. Employment lodgements are then due on 14 August
- State-based payroll tax – this differs per state/territory but you’re usually required to pay it at around the $47,000/month salary mark
Confused? We’ve got you.
When you’re running a business, the daily accounting grind can be a huge distraction from achieving your plans.
That’s why we built bookkeeping, payroll and tax services – so you can get back to working on your business (not in it). As part of these services, we proactively manage all the due dates and reach out when they’re due.
What if you miss a due date?
The ATO can and does apply penalties if you fail to lodge on time (that’s why we send our clients three reminders).
Penalties are usually set at $210 for every 28 days past the due date.
While the ATO is more lenient on an occasional lapse, they aren’t always.
As with all our articles, please don’t take this as personal tax, financial or other advice (please speak to us for that).
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