key dates for your tax diary

Any business that is registered for goods and services tax (GST) is required to lodge a business activity statement (BAS). This is used to help employers GST, pay as you go (PAYG) instalments, PAYG withholding tax, and any other applicable taxes. The ATO automatically sends out a BAS when it is time to lodge.

The frequency of Business Activity Statement (BAS) submissions during the year depends on the size of the company. Generally, small businesses and private contractors report via a quarterly BAS. Medium-sized organisations report monthly and large employers report fortnightly via electronic payment. Employers must also submit an annual report to the ATO and provide employees with annual payment summaries.

employer payment and reporting obligations

report/payment                          to whom                                     when

payslip include PAYG

withheld amount

employees

employee payday

payment summary

employees and some contractors

Annually – end of financial year

PAYG withholding payments and reporting

ATO

·   quarterly on BAS for small employment withholders

·   monthly on supplied form for medium withholders

·   twice-weekly electronic payment and report for large withholders

PAYG withholding annual reports

ATO

Annually – end of financial year

superannuation payments

superannuation fund

at least quarterly

superannuation guarantee payment and reporting

ATO

Quarter 1 – 28 Oct

Quarter 2 – 28 Jan

Quarter 3 – 28 April

Quarter 4 – 28 July

FBT instalment payment

ATO

·   annually for smaller FBT payers

·   quarterly for larger FBT payers

FBT return

ATO

annually by 21 May


making your business tax-ready

The ATO has created various online tools to help small businesses meet their tax and superannuation obligations. 



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