Important end of financial year reporting dates

The end of the financial year can be a busy period for many businesses but it’s essential to lock in the required taxation reporting dates to ensure your business is financially up to date and compliant.

Income tax lodgement dates

Sole trader, partnerships and trust income tax returns

31 October is the due date for tax returns by:

  • Sole trader or self employed individuals - self lodged individual tax returns
  • Partnerships and partners if self lodging individual tax returns
  • Trust tax returns lodged by yourself

If lodging your tax return via a registered tax agent they will provide you with the relevant due dates.

Company income tax returns

Self lodged company tax return dates may vary however general lodgement and payment due date for small companies is 28 February.

Please note - due dates can vary depending on factors like overdue prior year returns. For more information on the due dates for income tax can be found - ato.gov.au

Activity Statement reporting dates

Activity Statements are usually submitted quarterly which means the end of financial year is not such a deadline.

Monthly activity statements are due each month on the 21st.

Quarterly activity reporting - lodged electronically is due:

  • 11 November - Quarter 1 - covering July to September
  • 28 February - Quarter 2 - covering October to December
  • 12 May - Quarter 3 - covering January to March
  • 11 August - Quarter 4 - covering April to June

More information on Activity statement due dates - ato.gov.au

Pay as you go - PAYG reporting dates

By the 14 July payers are required to provide employees and other workers with PAYG withholding payment summaries. 

The final date for lodging PAYG withholding payment summary annual report is 14 August.

The due dates for PAYG installments throughout the year as well as the annual installment are as follows:

  • 21 October - Annual PAYG installment
  • 28 October - Quarter 1 - July to September
  • 28 February - Quarter 2 - October to December
  • 28 April - Quarter 3 - January to March
  • 28 July - Quarter 4 - April to June

More information on Pay as you go due dates - ato.gov.au

Goods and services tax - GST reporting dates

Annual GST return and lodgement is due 31 October (when your income statement is due however if you use a tax agent dates can vary). Alternatively if you do not have an income tax return obligation the date for annual GST lodgement and payment is 28 February.

More information on GST due dates - ato.gov.au

Fringe benefits tax reporting dates

The fringe benefits tax year is 1 April to 31 March and lodgements and payments are due by 21 May each year. 

Please Note - Due to COVID-19 the 2020 FBT return and payment due date is extended to 24 June 2020.

More information on lodging and due dates for fringe benefits tax can be found here - ato.gov.au

TFN reporting for closely held trusts reporting

The annual TFN withholding reporting due date for closely held trusts is 30 September.

More information can be found here - ato.gov.au

ATOs Small Business Newsroom

The ATOs Small Business Newsroom is a great resource for businesses and has all the key dates throughout the year for reporting and payments - ato.gov.au/Newsroom/smallbusiness/Key-dates

Need help during your end of financial year preparations? Take a look at our End of financial year checklist for small businesses or book visit to our Sunshine Coast accountants today.


This web page and its contents are general in nature. You should always speak to a professional regarding your exact circumstances before making any decision in relation to creating a trust of any kind, as the information contained on this page may not be suited to your needs.

References - https://www.ato.gov.au/Business/Reports-and-returns/Due-dates-for-lodging-and-paying/ , https://www.ato.gov.au/Business/Reports-and-returns/

Accountant & Bookkeeper Reviews

Bottom Line Control Reviews

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5
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Bottom line Control, headed by Malcolm Chilman, have been by tax agent/accountant/book keeper for more than 10 years now, and I have nothing but praise for the efficient and cost effective way they go about their work. I have recently given them my SMSF as well and am impressed by the meticulous way he goes about the process of staying within the lines of the over-complex Superannuation law. Whether it is simple BAS bookkeeping or complex questions of tax law, Malcolm is always there to help. And if he does not know some intimate detail of our almost incomprehensible tax process, he knows where to find the answer. Every business has the occasional need for a quick answer, so one of the characteristics that I appreciate here, is Malcolm's ready availability, by phone and email.

PA Apartments - Business Accountant Client

Byron Scott

PA Apartments

Business Owner & Investor

40 Wholseley St, Woolloongabba, Qld 4102

Phone: (07) 3891 1742 | Email: info@PAapartments.com.au

We changed all of our financials over to Bottom Line a few years ago and have been quite impressed with the service and advice we have received. Nothing is too much to ask of them. Thank you to Malcolm and staff for being there for us.

PA Apartments - Business Accountant Client

Wayne & Penny Rex

Rex and Turtle

Business owners and Property Developers

We switched to Bottom Line Control after realizing that our previous accountant was giving us incorrect advice and charging a premium for it. We have now been using Bottom Line Control for several years and have found Malcolm to be thorough and reasonably priced. He always finds ways to save money on our taxes. Malcolm and his staff are highly responsive and very easy to work with. We highly recommend.

PA Apartments - Business Accountant Client

Alex & Rebecca Watson

Equathon Horse Riding

PO Box 301 Noosa Heads, QLD 4567

Phone: (07) 5474 2665

Thanks Malcolm for saving me the stress of sorting through all the issues of self-employment, and the many confusing deductions and tax items associated with that. Although I was extremely late in lodging my tax return, it was not a problem for you, and you managed to get me a healthy refund when I was sure I was going to have a bill! I will certainly be using your services in the future and have already been recommending you to others.

PA Apartments - Business Accountant Client

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The Anderson Outloook

Freelance Journalis

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PA Apartments - Business Accountant Client

Graham Martin

Rick's Artisan Pies & Sourdough

Founder of “Dough Fusion” chain of bakeries and Rick’s Artisan Pies and Sourdough