Upcoming Tax Lodgement and Payment Deadlines

As the financial year continues to unfold, individuals and businesses in Australia are gearing up for tax season. It’s important we all stay informed about tax lodgement and payment deadlines to ensure a smooth and compliant process from a tax perspective. Below we'll walk you through the essential dates from February to April 2024, using the detailed information provided by the Australian Taxation Office (ATO). As usual, February to April will be a busy period, and that’s before the end of year lodgements are due on 15 May!

So, let’s take a look …

February 2024:

In February, businesses and individuals alike must be mindful of critical deadlines outlined by the ATO. Let's highlight some of the key dates:

• ‍28th February: Fringe Benefits Tax (FBT) Returns Due
  ‍• For entities involved in fringe benefits, the FBT returns are due by the end of February. This includes the lodgement and payment of any associated liabilities.
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• 28th February: December Quarter Activity Statements
  ‍• Businesses are required to lodge and pay their activity statements for the December quarter by the end of February.
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• ‍28th February: Income Tax Returns for Entities
  ‍• Entities that did not have tax payable in the prior year are expected to lodge their income tax returns by the end of February.

For further details and additional deadlines in February, refer to the ATO's dedicated page: February 2024 Due Dates. Or, you can get in touch with the Attune team on 1300 866 113 to chat in detail about your specific circumstances.

March 2024:

March is a crucial month for businesses and individuals to progress in their tax preparation. Here are some significant dates:

• ‍15th March: Monthly Activity Statements for February
  ‍• Businesses are required to lodge and pay their activity statements for the month of February by mid-March.
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• ‍31st March: Income Tax Returns through Tax Agents
  • For clients who are not required to lodge earlier, income tax returns should be lodged through tax agents by the end of March.

For a detailed breakdown of all March deadlines, visit the ATO's page: March 2024 Due Dates. We’re also here to chat if you’d like advice on your March obligations – call the Attune team any time on 1300 866 113.

April 2024:

As we head to the big one on 15 May (when all entities that did not have to lodge earlier must Lodge 2023 tax returns) April holds several important deadlines to keep in mind:

• ‍21st April: Monthly Activity Statements for March
  ‍• Businesses should ensure the timely lodgement and payment of activity statements for the month of March.
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• ‍30th April: Final Tax Return Deadline
  • Individuals not using a tax agent must lodge their tax returns by the end of April.
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• ‍30th April: Large/Medium Taxpayers Deadline
  ‍• Companies and superannuation funds with a total income of more than $2 million in the latest year lodged (excluding large/medium taxpayers) must meet this deadline.

Explore all the April deadlines on the ATO's dedicated page: April 2024 Due Dates, or  get in touch with the Attune team on 1300 866 113 to chat in detail about your specific circumstances.

Staying on top of tax lodgement and payment deadlines is crucial for a stress-free and compliant tax year. At Attune Advisory, we encourage businesses and individuals to refer to the ATO's official website for the most accurate and up-to-date information or indeed, get in touch with our team to talk about your specific tax circumstances. So, for personalised guidance and expert advice, feel free to reach out to Attune Advisory via email or phone (1300 866 113).

Remember, timely lodgement is the key to financial peace of mind.