Remind you of your tax filing deadlines and duties, and keep you up to date on any changes. Distribute informative materials on tax-saving measures and deductions.
Certainly! Here are some important reminders and updates about tax filing deadlines and obligations in Australia for the year 2023:
1. Individual Tax Return Deadline: The deadline for lodging individual tax returns for the 2022-2023 financial year is typically October 31, 2023. It’s important to submit your tax return by this date to avoid penalties.
2. Business Activity Statements (BAS): If you’re a business owner registered for Goods and Services Tax (GST), you will need to submit your BAS either monthly or quarterly. The due dates vary depending on your reporting frequency. You can find the specific due dates on the Australian Taxation Office (ATO) website or consult with your accountant.
3. Pay As You Go (PAYG) Withholding: Employers are required to withhold income tax from their employees’ wages and remit it to the ATO on a regular basis. The due dates for PAYG withholding depend on your business size and reporting frequency. You should refer to the ATO website or consult with your accountant for specific dates.
4. Superannuation Guarantee Contributions: Employers must pay Superannuation Guarantee (SG) contributions for their eligible employees by the quarterly due dates. The due dates for SG contributions are typically the 28th day after the end of each quarter. However, it’s important to note that the ATO may introduce changes or updates, so it’s advisable to regularly check the ATO website for any modifications.
5. Fringe Benefits Tax (FBT): If you provide fringe benefits to your employees, the FBT return is generally due on March 21, 2024. However, it’s crucial to confirm this date with the ATO or seek advice from a tax professional, as it may vary based on individual circumstances.
6. Goods and Services Tax (GST): Businesses registered for GST must lodge their business activity statements and pay any outstanding GST amounts by the due dates specified by the ATO. The specific due dates depend on your reporting frequency (monthly or quarterly), so it’s important to check the ATO website or consult with your accountant.
Please note that these are general guidelines, and it’s always recommended to consult with SUNNYSIDE FINANCIAL GROUP a qualified tax professional, or visit the ATO website for the most up-to-date and accurate information regarding your specific tax obligations and deadlines.
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