ATO Lodgment To-Do’s for June 2021

Well! Almost the end of another financial year. Don’t miss these items and deadlines for you and your clients. 5 June Lodge tax return for all entities with a lodgment due date of 15 May 2021 if the tax return is not required earlier and both of the following criteria are met:   non-taxable or a credit […]

ATO Updates for June

5 June Lodge tax return for all entities with a lodgment due date of 15 May 2021 if the tax return is not required earlier and both of the following criteria are met:   non-taxable or a credit assessment in latest year lodged non-taxable or receiving a credit assessment in the current year. Note: This includes companies and […]

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 […]

The Top 5 Mistakes made on an SMSF: Advice from the Australian Tax Office

The ATO published a list of the most common mistakes made in the accounting process of SMSFs around the country last year. A few of the top five mistakes relate to the SMSF Annual Return (SAR) which is required to be lodged for some SMSFs next month. With recent growth of 15% in SMSF’s for […]

ATO Updates for April

Trustee Reporting Obligations for April: Transfer Balance Account Report (TBAR) For some SMSF’s, the Transfer Balance Account Report (TBAR) is due on April 28. It’s important to note additional considerations ahead of the indexation of the transfer balance cap later in the year. You’re required to lodge a TBAR for SMSF clients where: A transfer […]

April 2021 ATO Deadlines (21, 28, 30 April)

21 April Today’s the deadline for lodge and payment of Quarter 3, 2020–21 PAYG instalment activity statement for head companies of consolidated groups. Lodge and pay March 2021 monthly business activity statement. 28 April Lodge and pay quarter 3, 2020–21 activity statement by this date if you’re electing to receive and lodge by paper and not an active STP […]

Your Lodgment Checklist for March 2021

21 March It’s the deadline for lodge and payment of February 2021 monthly business activity statements. 31 March Today’s the date you’re to have lodged the tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large/medium taxpayers), unless the return was due earlier. Payment […]

ATO Lodgment To Do’s: Feb 28

Lodge tax return for non-taxable large/medium entities as per the latest year lodged (except individuals).Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment. Lodge tax returns for new registrant (taxable and non-taxable) large/medium entities (except individuals).Payment […]

ATO Lodgment To Do’s: Jan 31

Deadline: Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 2, 2020–21. Handy Links: Link to ATO Website: https://www.ato.gov.au/Tax-professionals/Prepare-and-lodge/Due-dates/January-2021/ For assistance from Intello: https://intello.com.au/contact/