When do I need to Lodge My Tax?
The statutory due date for an individual tax return is the 31st of October. Beyond this point you can only avoid penalties if you lodge your tax return with a tax agent.
If you have a company and you are registered for the goods and services tax (GST) you are required to submit your Business Activity Statement (BAS) quarterly. Your BAS is due on the 28th day following the end of each quarter if you lodge your BAS yourself. As tax agents we generally get four weeks extension on the lodgement due date of for BAS'. For instance, the April to June quarter BAS is due to be lodged by 28th July if the business owners chose to lodge it themselves. If it is lodged by a tax agent, the lodgement due date is then extended to 25 August.
We assist businesses businesses with their bookkeeping and lodgement of business activity statements. By doing this, we can also keep track of your business activities and how you are performing. This will help us enhance mutual of your business performance and in turn assist you in making future business decisions.
Every submission of your tax is an opportunity to refine your record keeping processes and gradually understand where you can better invest by knowing where some money may return through tax times. So the next time we have the fortune of doing your tax, feel free to ask questions around how you may gain more from your tax in future years through relivant preperation.