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ATO Updates for May

15 May

Lodge 2020 tax returns for all entities that did not have to lodge earlier (including all remaining consolidated groups), and are not eligible for the 5 June concession.

Due date for companies and super funds to pay if required.

Note: Individuals and trusts in this category pay as advised on their notice of assessment.

28 May

Lodge and pay quarter 3, 2020–21 Superannuation guarantee charge statement – quarterly (NAT 9599) if the employer did not pay enough contributions on time.

Employers who lodge a Superannuation guarantee charge statement – quarterly 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.

Note: The super guarantee charge is not tax deductible.

Use the ATO Super guarantee charge statement and calculator tool to work out the super guarantee charge and prepare the Superannuation guarantee charge statement – quarterly.

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