As we come to the end of April, we have our final 2 months to finalise tax planning for the 2024 income year.
Despite the need for tax planning, May and June are also critical months to ensure all your tax lodgments are complete to avoid any penalties.
In order for you to be across your tax obligations, below are the key compliance dates coming up. If you have questions or need help with any of the following, we are here to help.
KEY TAX DATES – MAY/JUNE 2024
– 15 May 2024 – Income Tax – Lodge 2022–23 tax returns for all entities that did not have to lodge earlier and are not eligible for the 5 June concession. Payment due date for companies and super funds if required.
– 21 May 2024 – GST – Monthly Activity Statement and payment for April.
– 21 May 2024 – PAYG withheld – Monthly Activity Statement and payment for April.
– 21 May 2024 – PAYG instalment – Activity Statement and payment for monthly reporters for April.
– 21 May 2024 – Fringe Benefits Tax – FBT return for the year ended 31 March 2024 to be lodged, together with payment of FBT if not lodging with us.
– 28 May 2024 – Superannuation guarantee – Lodgment and payment of superannuation guarantee statement for January to March 2024 quarter.
– 5 June 2024 – Income tax return – 2022–23 lodgment and payment of tax returns with a lodgment due date of 15 May 2024.
– 21 June 2024 – GST – Monthly Activity Statement and payment for May.
– 21 June 2024 – PAYG withheld and PAYG instalment – Monthly Activity Statement and payment for May.
– 25 June 2024 – Fringe Benefits Tax – Lodgment due date for 2024 FBT annual return if you lodge with us.
– 30 June 2024 – Company tax return and consolidated head companies – End of financial year. Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2023–24 financial year.
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The team at EMspire Advisory are trusted, qualified Chartered Accountants, tax agents, and small business accountants. We work closely with our clients to achieve the best possible outcomes. To find out more, please contact us!
Please note that this information is not specific and is general in nature and cannot be relied on as advice. Please contact us for advice specific to you and your circumstances.