This is only something you need to worry about if you're an employer and have PAYG withholding responsibilities.Įach activity statement is a month in arrears, so for the 21 January 2021 the report would be lodged for tax activities between then and the 21 December 2021. These relate to the withholding of income at source for tax and superannuation (retirement fund) reasons. As the Australian tax system runs on a Pay As You Go basis where tax is automatically deducted, it's necessary for your employer to lodge monthly activity statements on the 21st of every month. The first deadline for monthly PAYG activity statements falling in 2020. Some companies may be advised to submit returns earlier if they have a history of failing to lodge tax returns on time in previous years (in which case, the recommended lodge date would have been October 31 2021). The due date for income tax returns for companies, trusts and businesses whose taxable annual income exceeded $10 million in the previous fiscal year. The most important tax dates for businesses in Australia are listed below. What are the Australian Tax Dates for Businesses? You don't want to leave that kind of money behind in Oz! The average tax refund Down Under is AU$2600. Alternatively, you can apply for an extension – Remember that it's better to lodge a complete, delayed tax return than an incomplete one on time. If you use a Registered Tax Agent like us for help, the deadline is usually later, but you'll still need to consult with them before the 2nd to avoid penalties. The timing can differ slightly from year-to-year, but refunds are typically issued in July.ĭeadline for lodging your tax return for the fiscal year 1 July 2021 – 30 June 2022. This is the estimated month for the issue of rebates from the previous fiscal year. This means that any missing payment summaries should be available after that date as information with ATO. Employers are obliged to disclose employees PAYG information to the ATO no later than 14 August. A similar summary is issued to the tax office a month after this, so make sure you receive this and check everything is in order. You should receive an annual Pay As You Go payment summary from your employer on this date. The average tax refund Down Under is AU$2600 The Australian Taxation Office begins to process tax returns from the fiscal year just ended. This isn't something you really need to concern yourself with, as hopefully the agents will take care of it for you. If you're an individual and used a registered tax agent to help lodge your annual tax return for the fiscal year 2021 (1 July 2020 – 30 June 2021), this is typically the deadline they will adhere to for the submission of your return. Tax season in Australia runs from 1 July – 31 October for individuals (businesses have to submit monthly and quarterly activity statements all year round). Here are the most important Australian tax dates that every backpacker should know. In this blog, we'll take a look at the basics of the Australian fiscal year and outline some of the most significant dates and deadlines during the tax year. And then, when you move to Australia for your working holiday, you have to come to terms with the Aussie tax system too! It's hard enough to get a handle on the tax system in your own country.
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